What Did US Trade Representative Rick Switzer Discuss with FS Vikram Misri?
Synopsis
Key Takeaways
- Rick Switzer met with Vikram Misri to discuss trade relations.
- Focus on enhancing economic and technology partnerships.
- Discussions included ongoing trade negotiations and supply chains.
- India optimistic about concluding a bilateral trade agreement soon.
- Potential benefits for Indian exports with removal of tariffs.
New Delhi, Dec 10 (NationPress) US Deputy Trade Representative (USTR) Rick Switzer arrived in India for high-level discussions, meeting with Foreign Secretary Vikram Misri before engaging with officials from the Ministry of Commerce and Industry.
During their meeting, they explored the extensive economic and technology partnership between India and the US, along with ongoing trade negotiations, as highlighted by the Ministry of External Affairs.
The MEA's post on X remarked, "Foreign Secretary Vikram Misri met with U.S. Deputy Trade Representative Rick Switzer, where they discussed the robust India–U.S. economic and technology partnership, ongoing trade negotiations, and opportunities to enhance two-way trade and strengthen resilient supply chains."
This visit, led by the newly-appointed Switzer and chief negotiator for the India trade deal, Brendan Lynch, has rekindled optimism for finalizing the India-US trade deal.
Previously, Commerce Secretary Rajesh Agrawal indicated that India is optimistic about concluding the first segment of the bilateral trade agreement (BTA) with the United States by year-end, as most issues have been addressed. He expressed confidence in finding a solution within this calendar year while acknowledging that certain aspects are non-negotiable for India.
India is currently negotiating two agreements with the US: one concerning a trade deal and another to address additional reciprocal tariffs imposed by the US. This trade pact will focus on both the 25% reciprocal tariffs and the 25% oil tariffs.
Agrawal noted that the trade deal would benefit Indian exports upon the removal of elevated US tariffs.
Moreover, Agrawal informed the Parliamentary Standing Committee that India's exports to the US have seen an increase. He mentioned that the two nations have been conducting regular virtual discussions regarding the BTA, with the initial stage of India-US trade dialogues progressing rapidly.