Two senior officials from the US Department of Treasury have arrived in India to urge New Delhi to maintain the implementation of the oil price cap aimed at limiting profits to Russia. The G7 nations, the European Union, and Australia jointly implemented a price cap after the Ukraine war began.
India during talks with US during President Trump's scheduled visit to New Delhi later this month may open its dairy and poultry market as the two nations may advance talks for a limited trade deal.
"There is enormous potential to grow our trade relationship and create the high-quality jobs that Prime Minister Modi wants if India lowers trade barriers and embraces fair and reciprocal trade," according to a State Department Fact Sheet.
This decision followed the US ending India's $5.6 billion trade concessions under the Generalised System of Preferences (GSP) programme.
Yesterday, Pompeo spoke over the phone with Swaraj to express his "regret and deep disappointment" at the US having to postpone the dialogue for "unavoidable reasons".
India has sought an exemption from the US tariffs along the lines the US has allowed to the European Union, Argentina, Australia, Brazil, Canada, Mexico and South Korea.
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