FX.co ★ U.S.-India Trade Talks Postponed as Tariff Dispute Deepens

Negotiations concerning a prospective trade agreement between the United States and India have been postponed, according to a report from Reuters, following the cancellation of a visit by American negotiation officials to New Delhi initially scheduled for August 25–29. This development extinguished expectations of relaxing the fresh U.S. tariffs on Indian products, which were set to go into effect on August 27. The U.S. embassy indicated that there were no additional details available, emphasizing that the discussions are overseen by the U.S. Trade Representative (USTR). Earlier this month, President Trump had levied an additional 25% tariff on Indian products in response to India's continued purchase of Russian oil, resulting in some tariffs reaching as high as 50%, among the highest applied by the U.S. to any partner. The negotiations had already encountered obstacles after five rounds due to disagreements over opening India’s agricultural and dairy markets and stopping Russian oil imports. India's Foreign Ministry stated that the country is being "unjustly targeted," highlighting that while the U.S. and EU persist in purchasing from Moscow, India is being penalized.