Source: India and the United States are expected to reach a provisional trade agreement by the end of the month
Internet reports that Indian government sources said that Indian and U.S. negotiators have made progress, focusing on market access, tariff reductions and non-tariff barriers for industry and some agricultural products. India and the United States are expected to reach an interim trade agreement by the end of this month. The two sides discussed increasing bilateral digital trade by improving customs and trade facilitation measures, the sources said, adding that "negotiations will continue" to allow early conclusion of the initial stages of a trade agreement. Officials added that the next phase of negotiations could deal with more complex issues, with the goal of signing the first part of a bilateral trade agreement by September or October. A source revealed that India rejected U.S. demands to open its import markets for wheat, dairy products and corn, while offering lower tariffs on high-value U.S. products such as almonds, pistachios and walnuts. India has asked the United States to cancel its benchmark tariff of 10%. However, the United States expressed opposition and pointed out that even the United Kingdom must abide by this requirement in a recently signed bilateral trade agreement.
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