US-India Trade Talks Focus on Tariffs and Market Access
L'essentiel
- US and India are in final trade negotiations ahead of a July 24 deadline to set tariff rates and address market access for US agricultural products.
- The visit by US official Greer is expected to finalize a deal after a year of strained relations.
Résumé généré par IA
Pourquoi c'est important
US and India are in final trade negotiations to set tariff rates and address market access for US agricultural products before a July 24 deadline.
Analysts say the visit could centre on finalising tariff rates and giving the relationship a political reset after a year of strain over trade, Indian workers and the Strait of Hormuz.
The US earlier this year agreed to reduce levies on India to 18 per cent from 50 per cent. However, both sides have been forced to renegotiate after the US Supreme Court struck down Trump’s sweeping tariffs against various countries, prompting Washington to impose a universal 10 per cent duty.
Since then, negotiations have been ongoing regarding a final tariff rate before July 24 – when the 10 per cent duty is set to expire – and Washington’s push to open India’s protected agricultural markets, which employ nearly half of the country’s working population.
“There has been some hard bargaining by both sides and I expect Greer’s visit should put the final touch on the trade deal,” said Vivek Mishra, deputy director of strategic studies at the Observer Research Foundation, adding that finalising the tariff rates appeared to be the goal of the talks.
À surveiller
Perspective IA — des possibilités, pas des certitudes
Finalization of the US-India trade deal.
Probable · En quelques semaines
Questions ouvertes
- What will the final tariff rates be?
- Will India open its agricultural markets?
