Overview
- A US official says Deputy USTR Rick Switzer will lead next week’s delegation to New Delhi, though some reports still cite chief negotiator Brendan Lynch.
- Both governments are working toward a near-term framework that addresses reciprocal tariffs before year-end, separate from a longer Bilateral Trade Agreement.
- Washington’s duties on Indian goods are described as 25% plus a 25% penalty or a 50% rate tied to India’s Russian crude purchases.
- India’s merchandise exports to the US fell 8.58% in October to $6.3 billion, with textiles, gems and jewellery, shrimp and leather suppliers reporting lost orders.
- Six rounds of talks have taken place since September visits by both sides, and Commerce Secretary Rajesh Agrawal says he is hopeful of a solution this calendar year.