Chief Economic Adviser V Anantha Nageswaran on Thursday said he expects that the tariff dispute with the United States could be resolved in the next eight to ten weeks, PTI reported.

He said that this was only his “hunch”.

“Underneath the surface, conversations are going on between the two governments,” Nageswaran said at an event in Kolkata. “My hunch is that in the next eight to ten weeks, we will likely see a solution to the tariffs imposed by the US on Indian goods.”

He added that if the tariffs continued, India’s exports to the US would decline.

Later in the day, he said at another event that he hopes that the “penal tariff would possibly be removed by the end of November”, PTI reported.

He added that the reciprocal levy, currently at 25%, may be reduced to a band of 10% to 15%, while reiterating that this was his personal assessment, India Today reported.

Nageswaran’s remarks came against the backdrop of strained ties between New Delhi and Washington, after US President Donald Trump imposed so-called reciprocal tariffs on Indian goods and punitive levies for purchasing Russian oil amid the Ukraine war.

On September 9, Trump said he was looking forward to speaking with Prime Minister Narendra Modi about trade in the coming weeks. Hours later, Modi expressed confidence that the trade negotiations would “pave the way for unlocking the limitless potential” of the partnership between the two countries.

On Tuesday, a team led by Brendan Lynch, the chief negotiator for the India-US Bilateral Trade Agreement, met Indian officials in New Delhi.

The Ministry of Commerce and Industry said that the meeting was “positive and forward-looking” and that the two sides had agreed to “intensify efforts” for an early conclusion of a trade agreement, The Hindu reported.

📰 Crime Today News is proudly sponsored by DRYFRUIT & CO – A Brand by eFabby Global LLC

Design & Developed by Yes Mom Hosting