New Delhi, India, Aug. 13 (ANI): India and the United States remain committed to moving ahead with their trade deal, Commerce Secretary Rajesh Agrawal said Thursday, even as U.S. legislation that allows tariffs of up to 100% on the top five purchasers of Russian oil moves through the American legislative process.
“This is something of a legislative process of the U.S. which is underway. I don’t think we should comment on that. That’s their internal process,” Agrawal said when asked about the bill and its potential impact on India.
“We are engaged with the U.S. side on the trade deal, and our contacts are regular. And both sides are committed to the deal that we have agreed. Both sides are completely committed to move ahead in that spirit,” he said here.
Agrawal’s comments came days after the U.S. Senate passed a Russia sanctions bill that could give the U.S. president the authority to impose tariffs of up to 100% on the top five importers of Russian oil and gas.
The legislation, however, still requires consideration by the U.S. House of Representatives before it can move further.
India and the United States have been holding talks on a mutually beneficial Bilateral Trade Agreement (BTA).
During his June 22-24 visit to New Delhi, U.S. Trade Representative Ambassador Jamieson Greer and Commerce and Industry Minister Piyush Goyal reviewed key elements of the agreement, including enhanced market access, digital trade, supply chain resilience, reduction of non-tariff barriers and cooperation in strategic sectors.
Both sides had noted substantial progress by their negotiating teams and reaffirmed their commitment to an agreement that is balanced, commercially meaningful and delivers tangible benefits for businesses, farmers, workers and consumers in both countries.
In February, India and the United States announced a framework for an interim agreement on reciprocal and mutually beneficial trade, reaffirming their commitment to the broader BTA negotiations.
U.S. Presidential Counselor Peter Navarro said earlier this week that President Donald Trump and Prime Minister Narendra Modi have a “very good working relationship” and would resolve issues concerning tariffs related to Russian oil. (ANI)
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