{"id":159418,"date":"2025-08-04T09:08:50","date_gmt":"2025-08-04T09:08:50","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/us-trade-talks-to-stick-to-terms-agreed-earlier-hindustan-times\/"},"modified":"2025-08-04T09:08:50","modified_gmt":"2025-08-04T09:08:50","slug":"us-trade-talks-to-stick-to-terms-agreed-earlier-hindustan-times","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/us-trade-talks-to-stick-to-terms-agreed-earlier-hindustan-times\/","title":{"rendered":"US trade talks to stick to terms agreed earlier – Hindustan Times"},"content":{"rendered":"

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India and the United States are intensely engaged to conclude a mutually beneficial early trade deal by the end of this month, \u201cstrictly\u201d within the bilaterally agreed framework of March 29, irrespective of the ongoing political rhetoric and independent of their strategic relationships with other countries, people in the know said on Sunday.
It may be part of the negotiations that India and the US may purchase and sell more energy as an outcome of the deal. But the agreed framework does not proscribe either nation from purchasing oil and gas from any third country of its choice, they said, requesting anonymity.
The two countries finalised the detailed terms of reference (ToR) to enter into negotiations of the bilateral trade agreement (BTA) on March 29 during their first physical round of talks in New Delhi. Later, on April 22, US Vice President JD Vance officially announced the finalisation of the ToR for bilateral \u201ctrade negotiations\u201d during his India visit, and called it \u201ca vital step toward a final deal\u201d between the two nations in a post on X that day.
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ToR is a set of bilaterally agreed road map for BTA negotiations. Both sides have concluded five physical rounds of negotiations and several virtual discussions within that framework. In the process, the two sides have already reached some common ground, substantial enough to announce an interim deal, they said.
\u201cWe are engaged through virtual mode as on date and likely to iron out remaining differences when the American negotiating team visits India for the sixth physical round this month,\u201d one of the people cited above said. The US negotiating team is expected to land in New Delhi on August 24 to participate in the sixth round of talks from August 25. According to the people, some concrete outcomes are expected after the successful conclusion of the sixth round towards the end of August, despite US President Donald Trump\u2019s recent statements and tariff actions against India.
Trump on July 30 announced punitive tariffs <\/a>on Indian goods through a post on Truth Social. The announcements involved 25% on Indian goods shipped to America and an unspecified levy for purchasing Russian oil. Trump\u2019s reaction was an outcome of India refusing to budge on retaining protections for its agriculture, dairy and micro, small and medium enterprises (MSME) sectors from unfettered American imports.
Another factor behind Trump\u2019s reaction was India importing almost one-third of its crude oil requirements from Russia. About that, Trump on July 31 said on Truth Social: \u201cI don\u2019t care what India does with Russia\u2026 They can take their dead economies down together, for all I care.\u201d
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According to the US Energy Information Administration\u2019s (EIA) country analysis updated on February 6, 2025, Russia was the primary source of India\u2019s crude oil and condensate imports in 2023, accounting for about 39% of its total imports, followed by Iraq (19%), Saudi Arabia (16%), United Arab Emirates (5%) and the US (4%). India imported 4.5 million barrels a day (b\/d) of crude oil and condensate in 2023, it said.
\u201cIn 2022, after the United States and EU imposed sanctions on Russia, India began purchasing Russia\u2019s crude oil at a discount, increasing its imports more than sixfold to 740,000 b\/d,\u201d the report said.
Energy hungry India, which is the world\u2019s third largest importer after the US and China, imports over 87% of the crude oil it processes. \u201cEconomical and reliable energy supply is the top priority of India\u2019s energy security, and heavily discounted crude from Russia meets both the requirements. Our energy sourcing is diversified, involving 39 countries. We have recently increased energy imports from the US and this may go up further depending on commerciality. But our sourcing from Russia would not stop under any external pressure. We are not bound by any unilateral sanction as we follow the UN sanction,\u201d a second person said.
Energy security is India\u2019s key concern and the US is endowed with the natural resource. The proposed BTA may have some definite commitments for enhanced energy imports from the US, depending on the long-term commercial viability, the people mentioned above said. \u201cBut the deal cannot and will not restrict India\u2019s freedom in pursuing its independent energy sourcing. We are buying crude oil from about 40 countries, including the US, the Middle East and Russia. And the policy of diversified sourcing will continue,\u201d the first person said.<\/p>\n

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