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India, US conclude round of trade talks; no clarity over reciprocal tariffs

India and the United States have wrapped up a key round of negotiations for a proposed bilateral trade agreement, government sources told PTI on Saturday. The discussions, led by a team of US officials headed by Assistant US Trade Representative for South and Central Asia Brendan Lynch, are reportedly making steady progress. After the first round of talks concluded, no clear resolution has ben reached regarding the issue of reciprocal tariffs as Commerce Ministry remained silent on the matter. Meanwhile, the Ministry stated that sectoral expert-level discussions under the Bilateral Trade Agreement (BTA) are set to commence virtually in the coming weeks.

The four-day trade talks saw substantial convergence on key aspects of the proposed agreement, though the Terms of Reference (ToR), a crucial document outlining the scope and objectives of the deal, remain unfinished, The Indian Express reported. A government official told IE that while both sides made headway, the absence of finalised ToR means formal negotiations have yet to commence.