Will things work out with America on tariffs? S Jaishankar and Piyush Goyal held a meeting with PM Modi:

Talks are going on between India and America to resolve trade related issues. Both the countries are working on creating a framework for a bilateral trade agreement. Meanwhile, today External Affairs Minister S Jaishankar and Commerce and Industry Minister Piyush Goyal had a meeting with Prime Minister Narendra Modi on the issue of US trade tariff.

Let us tell you that tariffs are import charges. These charges are imposed and collected by the government. Companies have to pay these charges to bring foreign goods into the country.

Senior US trade official on India tour from March 25

At the same time, US Assistant Trade Representative for South and Central Asia Brendan Lynch will be on a five-day visit to India from Tuesday. During his visit to India, he will discuss issues related to trade and customs between the two countries. Lynch's visit is taking place amidst the announcement of imposing retaliatory customs duty on India by US President Donald Trump. Trump has announced to impose this duty from April 2.

Will the great conflict over tariffs end?

The senior US official will hold talks with Commerce and Industry Minister Piyush Goyal during his visit to India, besides meeting several senior Indian officials. During this time, talks are also expected to be held between the two sides to formulate a framework for a bilateral trade agreement. This agreement will resolve issues related to tariffs and market access between India and the US.

"Lynch will be in India from March 25-29 along with a team of US government officials to meet with Indian negotiators as part of bilateral trade discussions," a US official said. "We value our engagement with the Indian government on trade and investment matters and look forward to continuing these discussions in a constructive, equitable and forward-looking manner," the US official said. India on Friday said it was in talks with the US to work out a framework for a bilateral trade agreement that would address issues related to tariffs and market access.