High-Stakes Negotiations: US-India Trade Deal Progresses
President Donald Trump has announced that negotiations for a trade deal between the US and India are progressing, potentially following a successful pact with Indonesia. The deal aims to provide US companies better access to the Indian market by keeping tariffs below 20%, despite challenges on tariffs in the agricultural, steel, and aluminium sectors.
- Country:
- United States
President Donald Trump has highlighted progress in trade negotiations between India and the United States, suggesting a deal could be finalized soon. Modeled after an agreement with Indonesia, the pact promises to open India's market to American companies.
Washington is keen to secure tariff concessions, particularly in sectors like agriculture, steel, and aluminum, ensuring duties remain below 20%. However, India remains firm in its stance against rushing the deal, prioritizing national interest.
The ongoing talks see India demanding the lowering of additional tariffs, while the US strives to maintain reciprocal conditions. A team from India's Commerce Ministry is negotiating in Washington to finalize details, as President Trump aims to announce several trade agreements in the coming months.
(With inputs from agencies.)
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