WASHINGTON, D.C. (RFD News) — The United States and India are meeting this week to finalize details of an interim trade agreement and continue broader bilateral trade negotiations.
India’s Commerce Ministry says the talks build on a February framework reaffirming both countries’ commitment to pursuing a larger trade deal.
The U.S. chief negotiator is meeting with his Indian counterpart through Thursday.
The meetings follow Secretary of State Marco Rubio’s recent visit, where India signaled plans to purchase $500 billion in U.S. goods over the next five years.
Negotiators are focusing on market access, tariffs, investment and economic security.
Meanwhile, India’s rice exports are slipping as conflict in the Middle East disrupts shipments of premium basmati rice to Gulf nations.
Reuters reports exports fell more than one percent during the first quarter, while basmati shipments declined seven percent.
Exporters say cargo delays, rising freight costs and instability surrounding the Strait of Hormuz are slowing trade with major Middle East buyers.
India remains the world’s top rice exporter, supplying more than 40 percent of global demand.
One trader said the products entering the U.S. are primarily grind and trim, noting that the volume and type of beef, on its own, should not cause a major disruption. However, he says fund traders are reacting heavily to headlines rather than market realities.
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