New Delhi, Feb. 22 -- New Delhi: India and the US have postponed talks on the proposed interim bilateral trade agreement following recent developments in Washington, including the US Supreme Court striking down the reciprocal tariffs imposed by President Donald Trump and the subsequent imposition of a new 15% universal tariff under Section 122 of the Trade Act of 1974.

Section 122 allows the US president to levy a temporary import surcharge of up to 15% for up to 150 days, unless extended by Congress. The provision can be invoked in situations involving serious balance of payments or international financial pressures.

According to a senior official aware of the matter, the visit of India's chief negotiator for US trade talks has been po...