India Seeks Preferential U.S. Tariffs to Fast-Track Interim Trade Deal
India is pushing for preferential tariff treatment from the United States as part of ongoing negotiations to finalize an interim bilateral trade agreement. An Indian trade official said the deal could be concluded once both sides agree on a tariff structure that remains competitive with rates offered to India’s key global rivals. New Delhi is also seeking assurances that it will not face additional tariffs from Washington after the agreement is signed.
Trade discussions, which had gained momentum following an initial understanding reached in February, reportedly slowed after U.S. tariff measures were challenged in American courts. The United States has since proposed an additional 12.5% tariff on imports from India and several other countries, citing concerns over the use of forced labor. Washington is also considering separate tariffs on Indian exports in sectors such as textiles, arguing that excess production capacity and rising exports are harming U.S. industries.
Negotiations accelerated last week when a U.S. delegation led by Assistant U.S. Trade Representative Brendan Lynch held three days of talks with Indian officials in New Delhi. India’s Commerce and Industry Minister, Piyush Goyal, recently stated that both countries are moving swiftly toward finalizing the first tranche of a bilateral trade agreement, with hopes of reaching a conclusion by mid-July.
Pic Courtesy: google/ images are subject to copyright
