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Deadline for mini trade deal with US passes, next round of talks set to begin
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Friday, 11 July, 2025, 08 : 00 AM [IST]
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Ashwani Maindola, New Delhi
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The July 9 deadline for a mini trade deal between India and the US has passed and the US has deferred the deadline to August 1 while the next round of talks over the ongoing tariff dispute is set to begin in Washington.
It is learnt that a team of Indian officials is set to visit Washington for the next round of negotiations, next week. The two sides would focus on an interim deal favouring both sides.
As per reports, Rajesh Agarwal, Special Secretary, Department of Commerce, and the chief negotiator from India, at an event, has said that India has just concluded a trade deal with the UK and the negotiations with the EU are in advance stage while the ministry is trying to negotiate a comprehensive deal with USA by September-October.
He added that so far India has implemented 14 free trade agreements involving 26 countries while trade agreements with Latin American countries are also being explored by the Department of Commerce.
It is pertinent to mention that India and the US have been holding talks since the past few months this year, to finalise a comprehensive trade agreement by September-October. However, the US demand for opening of the Indian agricultural market for its genetically modified products like soybean, corn and US dairy products including milk, is proving a spoiler.
In April, the US announced 26% tariff on Indian imports and later the order was deferred to July 9, which again has been deferred to August 1.
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