India has been hinting at a truce with the United States over trade tariffs. It all began when the US imposed additional tariffs on steel and aluminium imports from India and other countries. India hit back with a retaliatory tariffs of 29 goods imported from the US. Both sides held talks today and sources say a resolution is possible in the next month or so.
I think it is a very positive movement because it was not expected that everything would get resolved in the first meeting which took place over the last weekend, said Jayant Dasgupta, Former Ambassador of WTO.
Meera Shankar, Former Indian Ambassador, USA said, “For India, US is an important trading partner and for the US also India could be potentially larger market than it is. It is good that the two countries are engaging and are trying to find a package or a compromise which would satisfy both sides.”