One official said: “BTA is the way to evacuate them or solve these problems. All outstanding problems are solved through this BTA, adding: “As a country, we are not in a hurry to take action.” The US industry is also worried. We need to wait and see. We aim to solve all problems. We aim to solve all problems.
“Since India is not the main target of these tariffs, there is a push for the U.S. to speed up negotiations,” another official said.
While discussions are ongoing between India and the U.S. trade teams to quickly conclude the BTA, officials said there is no clear deadline as both sides are already aiming to end the first batch of the deal this fall.
The Trump administration imposed reciprocity tariffs on more than 50 countries on Thursday, but said its 1977 International Emergency Economic Powers Act (IEEPA) also allows some exemptions.
However, the official said the exemptions will only begin after the BTA is in place. “Today’s IEPA order also includes modifications to the mandate if trading partners engage in retaliation or reduce tariffs, if trading partners take important steps to remedy non-share trade arrangements and are aligned with the U.S. in terms of economic and national security. More importantly, it is not clear that based on new negotiations, or the obligations announced on Wednesday, the dialogue announced on Wednesday, and it is not clear that officials insist that even if a trade agreement is not easy within 6-9 months, the work of the BTA will not stop. Indian exporters will have a dialogue with the major export promotion committee and will begin departmental meetings with the U.S. this month, with consultations with stakeholders and administration.
