As US president Donald Trump’s ‘Liberation Day’ loomed, a push from above resulted in the finalisation of the terms of reference for the bilateral trade agreement between New Delhi and Washington. Liberation Day was a reference to April 2, when the reciprocal tariffs, long threatened by the Trump administration, were to kick in.

It has been reported that the Prime Minister’s Office (PMO) intervened decisively to ensure that the terms of reference, which are to provide a framework for the bilateral trade agreement, were drawn up. The terms will require formal approval from the highest political quarters, but that should be imminent, given that the PMO wants a swift conclusion to the........

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