EU and India Engage in Ongoing Trade Negotiations Amid New Tariffs
Political engagement between EU Trade Commissioner Maroš Šefčovič and Indian Commerce Minister Piyush Goyal will persist, with no new full-fledged round of talks scheduled for now as both parties strive to conclude discussions before the year’s end, reports 24brussels.
Negotiators have focused on their respective offensive and defensive interests regarding market access for goods across both industrial and agricultural sectors, according to Gill.
The urgency of negotiations has intensified following U.S. President Donald Trump’s imposition of a 50 percent tariff on India’s energy purchases from Russia in August, leading to significant repercussions for Prime Minister Narendra Modi’s government. The EU, facing a 15-percent baseline tariff from the U.S., shares a mutual interest with India in diversifying their respective trading relationships.
In an effort to boost momentum, India dispatched its Commerce Secretary Rajesh Agrawal to Brussels last week. Agrawal’s visit aimed to “provide additional momentum” in the trade discussions, as reported by the Indian press agency PTI. He met with the EU’s top civil servant on trade, Sabine Weyand, to advance the long-awaited trade pact.
