India is discussing a three-stage trade deal with the US, hoping to reach an interim agreement before the US retaliatory tariffs come into effect in July. This was reported on May 20 by Bloomberg, citing sources.
“India is discussing a three-stage trade deal with the US and hopes to reach an interim agreement before the retaliatory tariffs come into effect in July,” the article says.
It is specified that in the interim agreement, the leaders of the two countries will likely consider such areas as market access for industrial goods and some types of agricultural products, as well as the removal of a number of non-tariff barriers, such as quality control requirements.
The second stage of negotiations will include the conclusion of a broader agreement covering 19 areas. At the same time, the final stage, according to Indian officials, will involve the signing of a comprehensive agreement. The talks are still ongoing, making it unclear whether the Trump administration has agreed to a three-stage process for concluding a trade deal, the publication said.
Ramp on May 11 announced plans to significantly increase trade with India and Pakistan. He also noted that he was proud of the U.S.’s help in achieving a ceasefire between the two countries.
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