How India-US trade talks unravelled,

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How India-US trade talks unravelled,

بھارت امریکہ تجارتی مذاکرات کیسے ختم ہوئے

NEW DELHI (Reuters) -U.S. President Donald Trump last Wednesday announced 25% tariffs on Indian imports from August 7 and threatened more penalties over New Delhi's purchases of Russian oil.

Below is a timeline of how India, once seen as the frontrunner for a U.S. deal, ended up facing steep tariffs after Trump escalated tensions, and called it a "dead economy."

February Modi visits Washington

* Indian Prime Minister Narendra agrees to work toward a limited trade deal by fall 2025 with the United States and expand the bilateral trade deal to $500 billion by 2030. He also pledged to boost energy purchases from the U.S.

March

Bilateral talks gain momentum

* Trade Minister Piyush Goyal visits Washington; meets Commerce Secretary Howard Lutrick and U.S. Trade Representative Jamisen Greer. Later in March, U.S. officials visit Delhi for talks. * India says negotiations are progressing well. * USTR annual report flags India's high tariffs, non-tariff barriers, data laws, and patent issues.

April Breakthrough signs emerge

* During Vice President J.D. Vance’s visit, both sides finalise the terms of reference for bilateral talks. * Indian officials say a deal could be signed before the July 9 deadline.

May

Further rounds of talks,

* Goyal travels to Washington with lead negotiator Rajesh Agrawal for trade talks. India expects a favourable outcome is nearby.

June

Mixed signals

* U.S. Commerce Secretary Howard Lutrick on June 3 says the U.S. and India are making progress and a deal could be finalised soon.

* Trump says a "big" trade deal with India is coming soon.

* Indian officials tell Reuters that trade talks have hit a roadblock over disagreements on import duties largely over farm goods, dashing hopes of a deal ahead of July 9. * At a rally in the eastern Indian state of Odisha on June20, Modi says he declined Trump's invitation to Washington.

JULY

Hardening of stance,

* Delegation returns to New Delhi without a breakthrough. * Trade Minister Piyush Goyal says on July 4 that India will not do trade deals to meet deadlines, and national interest will be "supreme." * Indian trade delegation travels to Washington again in mid-July for the fifth round of talks, aiming to break the deadlock. * Modi responds in Parliament about ceasefire with Pakistan: "No world leader asked us to stop the operation." * No high-level outreach from Indian leadership. * On July 31, Trump imposes 25% tariffs on Indian imports, warns of further penalties for countries buying Russian oil.

(Reporting by Manoj Kumar; Editing by Saad Sayeed)

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