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India and the US have finalised the terms of reference for talks over the first part of a bilateral trade deal, according to a report, amid Donald Trump’s 26% tariffs that have now been paused.
US Vice President JD Vance | File Image/AP
US Vice President JD Vance will embark on a four-day visit to India from April 21, according to reports, as New Delhi and Washington are looking to sign the first tranche of a bilateral trade deal that was announced during Prime Minister Narendra Modi’s meeting with US President Donald Trump in February.
JD Vance will be accompanied by his wife Usha Vance, who are expected to meet PM Modi and other Indian officials. Vance will also travel to Jaipur and Agra during his four-day visit. US National Security Adviser Mike Waltz is also likely to visit India on the same day.
This would be Usha Vance’s first visit to her home country as the Second Lady of the United States. She traces her roots to Andhra Pradesh and comes with a full bag of credentials and a touch of Indian culture in the American political system.
Sources earlier told CNBC-TV18 that Vance may visit India for further trade talks as both countries seek to finalise the first tranche of a bilateral trade agreement, focusing on goods, by fall this year.
This came as Donald Trump imposed 26% reciprocal tariffs on Indian goods earlier this month, but announced a 90-day pause on tariffs on all countries with the exception of China. Sources said while it is difficult for the agreement to be signed within this period, its form and structure may be decided in 90 days.
India has remained in continuous engagement with several countries including the European Union and the United Kingdom since Trump’s assumption of the US Presidency. Senior leadership from the EFTA countries – Israel, Qatar, and Sweden – has already visited India to discuss further deepening of trade ties.
India, US Finalise Terms Of Reference
India and the United States have finalised terms of reference for talks over the first part of a bilateral trade deal, an Indian trade official told Reuters on Friday, adding that it was possible that a “win-win” deal could take shape in the next 90 days.
“We are far ahead in trade talks with the US compared to other countries … there are lots of possibilities in 90 days,” said the official. He further said trade discussions between the countries will continue virtually and regularly.
PM Modi visited the United States in February to meet Donald Trump, where they agreed to finalise the first part of a bilateral trade agreement by this year. An American delegation led by Assistant Trade Representative Brendan Lynch visited New Delhi in March for talks on the deal.
India has asked its customs authorities to step up scrutiny of exports and imports of goods to ensure the country is not used as a conduit to re-route goods to the US, the official said. Some trade analysts predicted that some companies could use India to divert exports to the US market after Trump’s huge tariffs on China.
- Location :
Washington D.C., United States of America (USA)
