The breakdown in trade talks assumes significance as US President Donald Trump has announced 50 per cent tariff on Indian products, the highest on any country globally.

(BTA) and a US team is scheduled to visit India for the sixth round of talks. The negotiations were scheduled from August 25-29.

The US had announced a 25% secondary tariff on India on August 6 in response to New Delhi's continued purchase of Russian oil. These tariffs are set to take effect on August 27, and come in addition to the 25% reciprocal tariff previously announced on Aug 1.

India hopes trade talks with the U.S. will continue even as the U.S. hiked tariffs on its exports to 50% due to New Delhi's purchase of sanctioned Russian oil, two lawmakers said on Monday, citing a briefing to a parliamentary panel on foreign affairs.

A planned visit by U.S. trade negotiators to New Delhi from August 25-29 has been canceled, delaying talks on a proposed bilateral trade agreement, Indian business and financial news network NDTV Profit reported on Saturday,

Amid a strain in economic ties because of the increased tariff, a planned visit by a US team to India for trade negotiations from August 25 to 29 has been cancelled and is likely to be rescheduled, sources have told NDTV Profit.