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By Ellie Cook, Senior Defense Reporter at Newsweek
A scheduled visit by a U.S. trade delegation to India later this month has been cancelled, according to reports.
Several rounds of talks on a bilateral trade deal between the U.S., the world’s largest economy, and India, the most populous nation and a major economic power, have so far failed to yield an agreement.
In early August, U.S. President Donald Trump issued an executive order imposing additional 25% tariffs on Indian imports due to its Russian oil purchases. This brings the overall tariff rate on Indian goods entering the U.S. to 50%, which will take effect on August 27.
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India’s foreign ministry called this move “unfair, unjustified and unreasonable.”
Newsweek has reached out to both India’s Ministry of External Affairs and the U.S. Trade Representative for comment via email outside regular working hours.
A scheduled trip by U.S. trade negotiators to New Delhi between August 25 and 29 was reportedly cancelled. Reuters cited an anonymous source with direct knowledge of the matter, while unnamed sources told Indian broadcaster NDTV Profit that the talks are likely to be rescheduled.
In June, India’s external affairs minister, Subrahmanyam Jaishankar, expressed optimism for a deal as “very intricate” trade negotiations continued.
This is a breaking story. Updates will follow.
U.S. President Donald Trump and First Lady Melania Trump welcome Prime Minister Narendra Modi of India on the South Portico of the White House in Washington, DC, on June 26, 2017.
Credit: Olivier Douliery/ Abaca/Sipa via AP Images
