India american trade talk
Ever since the US announced a tariff on India. Since then, several rounds of talks have been held between the two countries. Recently, the sixth round meeting was also held last week. But now the news is coming out that America is trying to bring the issue of Russia oil purchasing in the deal with India. Whereas, India has demanded the removal of additional tariffs from it. The screw is seen stuck on the deal.
According to the ET report, the US deal wants to include Russia oil procurement from India, which is absolutely unusual. People aware of the case said that the US has tried to include oil purchases from Russia in a trade agreement negotiations from Russia, while South Asian country’s refinors are increasing imports to meet the growing domestic demand.
Trade talk from america
On Tuesday, American delegation, headed by Assistant Trade Representative Brendon Lynch, spoke on some necessary issues in a meeting with Indian officials. He asked to keep his identity secret because this information is not public. This demand is a bit strange, because the relationship with a third country in a country is not part of the Bilateral Trade Tax. The Commerce and Industry Ministry of India has not commented on this. The American Trade Representative office also refused to speak.
Earlier this week, American officials came to New Delhi for a day -long conversation. This meeting took place because the two countries are trying to reduce tension after President Donald Trump’s 50% tariff on India, which is one of the highest tariffs in Asia.
India’s demand
According to sources, in Tuesday’s meeting, India demanded the removal of extra 25% tax on energy purchases from Russia. It seems that it is difficult to find an easy solution. The Government of India described these extra tax as unintentional, unintentional and unnecessary and called Russian oil necessary for energy security. According to Bloomberg’s Friday report, due to the increase in fuel demand after the monsoon, India’s refiners are not planning to ban the purchase of crude oil from Russia and the government has not given any such order. After Tuesday’s meeting, the two countries said that the talks were positive and different aspects of the trade deal were discussed.
Where is it stuck
Earlier, the US and India promised to finalize a bilateral deal by the end of this year, but the negotiations failed due to the hardening of their stands on India and Trump’s pressure over India’s relations with Moscow. Washington wants more access to India’s dairy and agriculture sectors, but New Delhi is not ready to open them.