U.S.-India Trade Deal on the Horizon: Trump's Big Announcement
Former President Trump hinted at a significant U.S.-India trade agreement while speaking at the White House. The negotiation aims for mutual concessions, with the U.S. seeking access to India's market and India pursuing reductions in U.S. tariffs on labor-intensive industries.
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In a recent White House event, former President Donald Trump announced that the U.S. is on the brink of a 'very big' trade deal with India, indicating significant progress in ongoing negotiations.
India and the U.S. are finalizing terms for a bilateral agreement, with a focus on reducing tariffs and expanding market access before July 9, following the suspension of high tariffs by the Trump administration. The talks involve complex concessions on agriculture, dairy, and various manufacturing sectors.
The negotiations task force, led by India's chief negotiator Rajesh Agarwal, is in Washington to advance discussions. Key sticking points include U.S. requests for duty reductions on industrial and agricultural goods, while India seeks concessions on textiles, gems, and other labor-intensive products.
(With inputs from agencies.)
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