The broader India-US trade agreement will be signed in a phased manner, and negotiations for the second phase of the pact will continue after the signing of the first tranche of the deal.
A high-powered delegation from the United States will visit India from June 1 to 4 to carry forward the discussions between the two countries on a much-anticipated Bilateral Trade Agreement (BTA), it was officially announced here on Wednesday.
It said the Interim Agreement will represent a historic milestone in the partnership between the two countries, demonstrating a common commitment to reciprocal and balanced trade based on mutual interests and concrete outcomes.
A formal legal agreement on the trade deal is expected to be signed around mid-March, Goyal told mediapersons here, adding that after the joint statement is released, the US is expected to issue an executive order to reduce tariffs to 18 per cent.
Concluding his three-day visit to Washington, External Affairs Minister S Jaishankar has said the Indo-US trade deal is in the final stages of detailing and will be completed very soon.
Trump made this comment while speaking to Moneycontrol, following his address at the 56th Annual Summit of the World Economic Forum.
“I have a team over there right now, as we speak, in New Delhi working on this. There’s resistance in India to certain row crops and other meats and products,” Greer said, adding, “India is a tough nut to crack.”
