India has offered tariff cuts on imports of US farm products, such as almonds and cranberries, as a further concession to Washington, hoping to avert US President Donald Trump’s reciprocal tariffs set for next week, two government sources said.
Unlike China, Canada and the EU, India is actively seeking to appease the Trump administration and is open to cutting tariffs on more than half of US imports worth US$23 billion, Reuters reported earlier this week.
In a series of meetings in New Delhi with US Assistant Trade Representative for South and Central Asia Brendan Lynch, India agreed to cut tariffs on bourbon whiskey and agricultural products such as almonds, walnuts, cranberries, pistachios and lentils, one of the sources familiar with discussions said.
Photo: Reuters
The talks to fast-track negotiations were likely to have concluded late yesterday.
Trade talks are “progressing well” and the bilateral trade pact, still in progress, would benefit the two nations, Indian Minister of Commerce and Industry Piyush Goyal said on Thursday.
“Securing a favorable deal is a priority for Indian negotiators,” a second government source said, adding that India has aligned its offers with US priorities, particularly in the agriculture industry and some other sectors.
Both sources spoke on condition of anonymity due to the sensitivity of the talks.
The Indian Ministry of Commerce and Industry did not respond to an e-mail request for a comment, while the US embassy spokesperson in New Delhi said: “We don’t have anything to share on private diplomatic discussions.”
India lowered duties for bourbon whiskey to 100 percent from 150 percent last month. Import duties range from 30 percent to 100 percent on agricultural products such as cranberries, almonds, walnuts, and about 10 percent on lentils.
However, there is still resistance in government circles to lowering tariffs for dairy products, rice, wheat and maize, the source said, adding that India is seeking greater market access for shipments of fruits such as pomegranates and grapes besides rice to the US market.
The negotiators are expected to agree on the framework for the broad contours of the first phase of the bilateral deal, which is expected to be signed by fall, the sources said.
Last year, exports of US agriculture and allied products to India totaled nearly US$2 billion, including US$452 million in alcoholic beverages and US$1.3 billion in fruits and vegetables.
India’s exports to the US stood at about US$5.5 billion during the same period.
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