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India-US trade deal to be finalised soon: White House Press Secretary
Shreya Nandi New Delhi
India and the United States (US) will 'very soon' finalise a trade deal, and President Donald Trump will make an announcement regarding the finalisation of the pact, White House Press Secretary Karoline Leavitt said.
'Yes, he said that week and it remains true. I actually spoke to our Secretary of Commerce about it. He was in the Oval Office with the President. They are finalising these agreements and you'll hear from the President and his trade team very soon when it comes to India,' Leavitt told reporters.
She further said that India remains 'a very strategic ally' in the Asia-Pacific. 'Even the President has a good relationship with Prime Minister Modi, as you know, and he will continue to have that,' she said.
Leavitt's comments have come at a time when an official on Monday said that New Delhi has hardened its stance on issues related to the 'sensitive' agriculture sector, as negotiations for a trade deal with the US have entered a critical phase.
Affiliates of the Sangh Parivar have said the India-US trade agreement is unlikely to happen if America continues to be 'stubborn' about securing market access for genetically modified (GM) crops, dairy products, relaxed regulations on medical devices, and data localisation. The Bharatiya Kisan Sangh (BKS) and Swadeshi Jagran Manch (SJM) have flagged the issue that concessions to the United States in the agriculture sector, including dairy products, will have ramifications for the country's food security.
A trade delegation from New Delhi, led by Chief Negotiator and Commerce Department Special Secretary Rajesh Agrawal, has been in Washington, DC since Friday to finalise the deal. The team has further extended the stay to sort out the thorny issues.
All eyes will be on the ongoing in-person talks, given that the 90-day pause on the US's plan to impose country-specific reciprocal tariffs ends on 9 July. Both sides are aiming to finalise an 'early tranche' or the first part of a broader Bilateral Trade Agreement (BTA), that was announced by Prime Minister Narendra Modi and US President Donald Trump in February. If a deal between both countries does not materialise, India will have to face a 26 per cent reciprocal tariff from the US after 9 July.
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