The US has proposed additional tariffs of 12.5% on India under its Section 301 probe, citing concerns over forced labor and excess industrial capacity. This move complicates ongoing trade deal talks between the two nations, with experts suggesting India challenge the findings legally and at the negotiating table.
The US has proposed additional tariffs of 12.5% on India as part of its Section 301 probe into forced labor practices. Experts warn this could significantly impact Indian exports and complicate ongoing trade deal negotiations.
The US has proposed additional tariffs on India as part of its Section 301 probe, potentially impacting Indian exports. Experts suggest India should actively challenge the findings and leverage ongoing trade deal negotiations.
US and Indian trade officials are in New Delhi for crucial talks to finalize an interim trade pact before a July 24 tariff deadline. The negotiations are significantly influenced by a US Section 301 investigation into India's excess manufacturing capacity and potential forced labor imports.
Government sources indicate no immediate plans to hike gold and silver import duties, despite calls to curb non-essential gold purchases. Meanwhile, India anticipates US trade talks addressing pending issues, including a Section 301 probe, though a comprehensive deal remains distant. India has contested US allegations of structural overcapacity, urging the termination of the investigation.
The India-US trade deal remains unsigned months after negotiations began, with the Iran conflict diverting diplomatic focus to energy security. Experts warn India risks facing higher tariffs if it fails to seal the deal before Section 301 investigations conclude in June, potentially losing the strategic advantage gained from February's tariff reduction from 50% to 18%.
