Visit by US trade negotiators to New Delhi canceled, dashing hopes of some relief before August 27 deadline
\n Washington
\nA planned visit by US trade negotiators to New Delhi from August 25-29 has been canceled, delaying talks on a proposed bilateral trade agreement, Indian business and financial news network NDTV Profit reported on Saturday, citing people familiar with the matter.
\nThe current round of negotiations for the proposed bilateral trade agreement is now likely to be deferred to another date, the report said, dashing hopes of some relief before the August 27 deadline for the additional tariff on Indian goods kicks in.
\nEarlier this month, US President Donald Trump imposed an additional 25% tariff on Indian goods, citing New Delhi\u2019s continued imports of Russian oil in a move that sharply escalated tensions between the two nations.
\nRead: US lifts Indian import tariff to 50% with new 25% hike
\nThe new import tax, which will come into effect from August 27, will raise duties on some Indian exports to as high as 50%\u2013among the highest levied on any US trading partner.
\nTrade talks between New Delhi and Washington collapsed after five rounds of negotiations over disagreement on opening India\u2019s vast farm and dairy sectors and stopping Russian oil purchases.
\nIndia\u2019s Foreign Ministry has said the country is being unfairly singled out for buying Russian oil while the United States and European Union continue to purchase goods from Russia.
\nRussia accounted for nearly 36 percent of India\u2019s total crude oil imports in 2024, snapping up approximately 1.8 million barrels of cut-price Russian crude per day.
\nBuying Russian oil saved India billions of dollars on import costs, keeping domestic fuel prices relatively stable.<\/p>\n","protected":false},"excerpt":{"rendered":"
Visit by US trade negotiators to New Delhi canceled, dashing hopes of some relief before August 27 deadline Washington A planned visit by US trade negotiators to New Delhi from August 25-29 has been canceled, delaying talks on a proposed bilateral trade agreement, Indian business and financial news network NDTV Profit reported on Saturday, citing […]<\/p>\n","protected":false},"author":2,"featured_media":497332,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-497298","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world"},"yoast_head":"\n