India and USA to finalize $10 Billion trade deal including exemption from high duties on Aluminium: Forthcoming Trump’s visit to India

A stack of deals on trade and defence are on the board as New Delhi is making preparations to host US President Donald Trump as early on February’20.

 Several dates are being mulled over, the US President may be able to make it between February 21 and 25 with a three-stop India tour as his itinerary is still getting worked on. The summit-level meetings will be happening in Delhi between Indian PM and Donald Trump. Apart from that, the two powerful leaders of the world will be halting at Agra and Ahmedabad, which are inclusive in the plan.

India and USA are likely to secure a mega trade deal of above $10 billion, which includes exemption from high duties on Aluminium, when United States Trade Representative Robert Lighthizer visits New Delhi and meets Piyush Goyal, the Indian Commerce and Industry Minister in the second week of February’20. The draft of the deal is already underway and will be signed when President Trump visits India.

During the World Economic Forum in Davos, there were meetings on the planned deal. The US administration of 6 delegated team members was in Delhi a few days back to meet Mr Goyal and the concerned line ministries to discuss the contours of the proposed pact.

There were meetings on the planned deal in Davos during the World Economic Forum. A six-member team from the US administration was in Delhi over the weekend, meeting Goyal and the relevant line ministries to discuss the contours of the proposed treaty. Mr Goyal had met Lighthizer in the US last year.

“We expect the full deal to be signed this time and the longer-term idea is an FTA,” the official added.

Lighthizer is coming first to close the deal and he will come again with Trump to announce it, officials said.

The two sides have been engaged in talks to iron out the differences which began in 2018 when the US levied global additional tariffs of 10% on the import of aluminium products.

India’s exports to the US in the April-November period of fiscal 2020 totalled $35.6 billion, compared with imports of $25.1 billion. In the whole of fiscal 2018-19, exports were $52.4 billion and imports, $35.5 billion.