A US team’s visit to India for trade talks, planned for August 25–29, has been cancelled amid strains over increased tariffs, though it is expected to be rescheduled, reports said on Saturday.
The team was expected to advance negotiations on a bilateral trade agreement between India and the US, a matter that has gained urgency after US President Donald Trump announced a fresh 25% tariff on Indian goods over Russian oil purchases, on top of tariffs already in place.
This round would have marked the sixth round of talks on the India–US trade pact, and its timing was significant — it was set around August 27, when the extra 25% tariff comes into force. The discussions were also meant to precede the September–October window targeted for finalising the deal.
However, the visit is most likely to be rescheduled, Sources told NDTV Profit.
Meanwhile, in his Independence Day speech on Friday, Prime Minister Narendra Modi pushed for ‘swadeshi’ (Made in India) products and sent out a strong message of support to fishermen and farmers.
“Modi is standing like a wall against any harmful policy related to the farmers, fishermen and cattle-rearers of India. India will never accept any compromise regarding its farmers, its livestock rearers, its fishermen,” he said during his address from the Red Fort.
Earlier on Friday, Trump said Russia lost India as an oil client after Washington announced a penalty on New Delhi for its purchases. He indicated, however, that similar secondary tariffs might not apply to countries still buying Russian crude oil.
Trump’s comments came as New Delhi has not confirmed any suspension of oil imports from Moscow, despite Washington’s move last month to slap a 25 per cent tariff on Indian goods, on top of an existing 25 per cent tariff. The new duty is set to take effect on August 27.
“Well, he (Russian President Vladimir Putin) lost an oil client, so to speak, which is India, which was doing about 40 per cent of the oil. China, as you know, is doing a lot…And if I did what’s called a secondary sanction, or a secondary tariff, it would be very devastating from their standpoint. If I have to do it, I’ll do it. Maybe I won’t have to do it,” Trump told Fox News.
