New Delhi: India remains engaged with the US on the Section 301 proceedings announced by Washington and is also parallelly engaged with the US for finalisation of a framework agreement on bilateral trade as was announced on February 2 this year and in accordance with the joint statement released on February 7, the Commerce Ministry said on Wednesday.
The Commerce Ministry explained that the United States Trade Representative (USTR) has concluded investigations against 60 economies, including India, regarding measures these economies have taken to prevent the import of goods.
As a result, the USTR has proposed imposing additional tariffs on imports from the 60 economies under Section 301 of the US Trade Act of 1974. Products covered under section 232 tariffs and certain other products are excluded from these tariff proposals. A special mechanism has also been proposed for textile and apparel products that could allow a certain volume of imports from selected economies to enter the US at lower tariff rates.
As per the report, the proposed tariffs are not yet final and stakeholders can submit requests to participate in public hearings by June 22, 2026. Written comments can be submitted until July 6, 2026. Public hearings will be held on July 7. The USTR will consider the comments and testimony received before taking a final decision on the proposed measures, the statement said.
Senior officials from India and the United States currently holding a three-day round of talks in New Delhi to finalise the interim bilateral trade agreement that is expected to lead to a reduction in tariffs.
The February 7 India-US joint statement established the framework for a historic interim trade agreement to achieve mutually beneficial, reciprocal trade while committing both nations to broader Bilateral Trade Agreement (BTA) negotiations.
The US Ambassador to India, Sergio Gor, said recently that the US was looking forward to completing the details of a new bilateral trade agreement with India that will expand market access, reduce barriers, and create greater certainty for businesses on both sides.
(IANS)
