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India and the US remain committed to moving ahead with their trade deal, Commerce Secretary Rajesh Agrawal said on Thursday even as a US legislation that allows tariffs of up to 100 per cent on the top five purchasers of Russian moves through the American legislative process.
"This is something of a legislative process of the US which is underway. I don't think we should comment on that. That's their internal process," Agrawal said when asked about the bill and its potential impact on India. "We are engaged with the US side on the trade deal, and our contacts are regular. And both sides are committed to the deal that we have agreed. Both sides are completely committed to move ahead in that spirit," he said here. Agrawal's comments come days after the US Senate passed a Russia sanctions bill that could give the US President the authority to impose tariffs of up to 100 per cent on top five importers of Russian oil and gas. The legislation, however, still requires consideration by the US House of Representatives before it can move further. India and US have been holding talks for a mutually beneficial Bilateral Trade Agreement (BTA). During his June 22-24 visit to New Delhi, US Trade Representative Ambassador Jamieson Greer and Commerce and Industry Minister Piyush Goyal reviewed key elements of the agreement, including enhanced market access, digital trade, supply chain resilience, reduction of non-tariff barriers and cooperation in strategic sectors. Both sides had noted substantial progress by their negotiating teams and reaffirmed their commitment to an agreement that is balanced, commercially meaningful and delivers tangible benefits for businesses, farmers, workers and consumers in both countries. In February, India and the US had announced a framework for an Interim Agreement on reciprocal and mutually beneficial trade, reaffirming their commitment to the broader BTA negotiations. US Presidential Counsellor Peter Navarro said earlier this week that President Trump and Prime Minister Narendra Modi have a "very good working relationship" and would resolve issues concerning the Russian-oil-related tariff issue. (ANI)
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