India will reportedly not be clubbed with China, Mexico and Canada by the US, trade officials from the country told their counterparts in Delhi. This comes amid Trump’s 10 per cent tariffs on China, which was subsequently increased to 20 per cent, and 25 per cent on Mexico and Canada that he announced on February 1. China, Canada and Mexico also responded with their own set of tariffs.
According to a report in Hindustan Times, trade officials held their first in-person meeting with trade officials in the US to negotiate a bilateral trade agreement. The process has now been put on fast-track, the report stated.
The meeting came ahead of the April 2 deadline, when Trump would enforce reciprocal tariffs.
An official told the daily that the Trump administration does not club India with countries like China, Mexico and Canada. “There is a difference. The US has serious issues with China, Mexico and Canada related to currency manipulations, illegal migration and other security concerns. But with India it has only tariff issue, that too both are resolving amicably,” the official said, as per the report.
The talks, ‘India-US Fast Track Mechanism’, began on Wednesday and is expected to wrap up on Friday. The US team was led by assistant trade representative Brendan Lynch and the Indian delegation by commerce ministry’s additional secretary Rajesh Agarwal.
The official said that the outcome is expected to be satisfying for both the governments.
Finance Minister Nirmala Sitharaman’s upcoming trip to the US in April could also build on the ongoing talks, the report stated citing sources. This comes after commerce minister Piyush Goyal’s visit in early March.
Meanwhile, Prime Minister Narendra Modi and President Trump pledged to increase Indo-US bilateral trade from around $200 billion to $500 billion by 2030 on February 13.