India’s Exports at Risk
India could potentially face increased US tariffs ranging between 20-25% on certain exports. Reports from news agency Reuters suggest that this could be a temporary measure as trade discussions between New Delhi and Washington continue.
Upcoming Bilateral Agreement
It is anticipated that a comprehensive bilateral agreement between India and the US could be finalized by September or October. Sources mentioned to the news agency that negotiations are progressing towards a positive resolution.
Possible Tariff Scenario
In a ‘worst-case scenario’, US President Donald Trump might issue a tariff letter imposing levies of 20-25% on Indian exports. However, this would be a temporary action amidst the ongoing trade talks. The report also mentions that both nations are working towards a mutually beneficial deal.
Trade Deal Deadlines
Recently, President Trump declared that countries without trade agreements by August 1 could face tariffs ranging from 15% to 20% on exports to the US. Despite this deadline, India is continuing discussions as a US delegation plans to visit for further talks on August 25.
Continuing Negotiations
The upcoming talks are expected to address unresolved issues pertaining to market access, tariffs, and digital trade. While there is a shared intention to strengthen economic ties, challenges remain due to differing regulatory standards and tariff structures on key products.
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Stay tuned for more updates.
