United States Secretary of the Treasury, Scott Bessent, on Tuesday mentioned that commerce negotiations with India are ‘shifting effectively’ and acknowledged that Prime Minister Narendra Modi and US Vice President JD Vance made ‘good progress’ whereas the latter was in India.
Throughout the press temporary, Bessent mentioned, “US Vice President JD Vance was in India final week. He and PM Modi made some superb progress, so I might see some bulletins on India.”
#WATCH | Washington, DC | United States Secretary of the Treasury, Scott Bessent says, “…US Vice President JD Vance was in India final week. He and PM Modi made some superb progress, so I might see some bulletins on India…”
(Supply: The White Home/ YouTube) pic.twitter.com/qRGbE9A8O5
— ANI (@ANI) April 29, 2025
When requested if a tariff deal can occur quickly, Bessent replied that the US and India are very shut on it and the negotiations are ‘shifting effectively’. He mentioned that it’s simpler to barter with India as in comparison with many different nations.
He mentioned, “We’re very shut on India, and it’s simpler to barter with India than many different nations as a result of they’ve very excessive tariffs… So it’s a lot simpler to confront the direct tariffs as we undergo these unfair commerce offers which were put in place over a long time, however the non-tariff commerce boundaries might be rather more insidious and likewise more durable to detect.”
“So, a rustic like India, which has posted and prepared tariffs, makes it a lot simpler to barter with them. So I believe the Indian negotiations are shifting effectively,” Bessent continued.
#WATCH | Washington, DC | United States Secretary of the Treasury, Scott Bessent says, “We’re very shut on India and it’s simpler to barter with India than many different nations as a result of they’ve very excessive tariffs…So it’s a lot simpler to confront the direct tariffs as we go… pic.twitter.com/wAKNH9YbB4
— ANI (@ANI) April 29, 2025
India-US Bilateral Commerce Settlement
India on Tuesday mentioned that the conferences for negotiation of Bilateral Commerce Settlement (BTA) with the US are making ‘optimistic progress’.
Earlier, PM Modi had visited the US in February this 12 months and held a bilateral assembly with US President Donald Trump.
Now, as a part of ongoing BTA discussions, representatives of India’s Division of Commerce and the Workplace of the US Commerce Consultant met in Washington, DC, from April 23 to 25. This follows earlier bilateral discussions held in March in New Delhi.
In an announcement, the Ministry of Commerce and Business mentioned that through the conferences in Washington, DC, the crew had fruitful discussions on numerous subjects, together with tariff and non-tariff issues.
“The crew mentioned the pathway for concluding the primary tranche of the mutually useful, multi-sector Bilateral Commerce Settlement by Fall of 2025, together with via alternatives for early mutual wins. Whereas productive Sectoral expert-level engagements have taken place via the digital format, in-person Sectoral engagements are deliberate from finish Might,” the Ministry within the assertion mentioned.
These discussions are a part of bilateral efforts according to the Leaders’ Assertion of February 2025 to enhance and broaden India-US financial ties and provide chain integration via the BTA.
(with ANI inputs)