New Delhi: India is about to cope with a possible hike in American prices – between 20% and 25% – on some of its exports before the deadline of August 1 of Washington, two Indian government sources said. Although no agreement has yet been concluded, officials say they do not give up.
New discussions should start in mid-August, in the hope that a wider agreement can be concluded by the beginning of fall. For the moment, India retains new commercial offers, choosing to wait and negotiate a better global agreement with the aim of finalizing a complete bilateral agreement by September or October, one of the Indian officials told Reuters.
“The talks are progressing well and a delegation is expected in Delhi by mid-August,” said one of the Indian government officials, adding that President Donald Trump could issue a tariff letter for 20% or 25% in a “worst case”.
“However, we assume that it would be a temporary measure, given the five cycles of commercial talks that have taken place. An agreement will soon be concluded,” said the official.
Trump said on Monday that most partners who are not negotiating separate trade agreements would soon face 15% to 20% prices on their exports to the United States, well above the broad price of 10% he imposed in April. Its administration will soon inform around 200 countries of their new rate of “global price”.
US trade representative Jamieson Greer told CNBC on Monday that discussions with India required more negotiations, because Trump was more interested in good deals than fast offers.
India has demonstrated “a strong interest in the opening of parts of its market”, although its commercial policy has long focused on the protection of internal interests, said Greer.
Piyush Goyal, Minister of Trade in India, told Reuters last week that India made “fantastic” progress in US trade negotiations.
Indian officials said New Delhi had offered pricing discounts on a wide range of goods and is trying to facilitate non -pricing barriers.
However, agriculture and dairy products remain “without Go” areas, India can be unable to allow imports of genetically modified soybeans or corn, or to open its dairy sector.
Total trade in bilateral products reached around $ 129 billion in 2024, India showing a trade surplus of almost $ 46 billion.
India is retained on new offers while recalibrating its strategy in the midst of wider American tariff threats targeting the nations of the BRICS – including India – on issues such as DE -DOLLARISM AND PURCHASES OF Russian oil, said another official.
“We hope to have obtained an agreement that gives Indian exporters preferential access to our peers,” said the official.
Officials spoke under the cover of anonymity because they were not allowed to speak to the media.
The India Ministry of Commerce and the Office of the American commercial representative did not immediately respond to requests for comments sent by e-mail.
“We need more negotiations with our Indian friends to see how ambitious they want to be,” said Greer.
Analysts said that without agreement, Indian exports could face the American average tariffs of around 26%, greater than those confronted by Vietnam, Indonesia, Japan or the European Union.
