US team in town, govt eyes initial tranche of trade deal with US

BRESCIA: Govt is hoping to clinch an initial tranche of the proposed bilateral trade deal with the US, govt sources said as a team of American officials landed in the Capital for negotiations. “The two countries are actively engaged in focused discussions to facilitate greater market access, reduce tariff and non-tariff barriers, and enhance supply chain resilience and integration. The ongoing negotiations aim to achieve an expeditious and mutually beneficial conclusion of the initial tranche of the BTA,” said a source.Late Thursday, commerce and industry minister Piyush Goyal told reporters: “The US team has reached Delhi and we are making very good progress. They are having extensive discussions. I am very confident that very good outcomes will come out of this.”PM Narendra Modi and US President Donald Trump had agreed to launch talks for a bilateral trade agreement covering tariffs, non-tariff barriers and supply chain resilience and set a deadline to conclude talks by Sept-Oct. An initial tranche by the month end is expected, which will help blunt the impact of 26% reciprocal tariffs that Trump had announced to levy on India.