India is on the threshold of obtaining a penetration trade deal with the United States, as it was said that the White House’s economic advisor Kevin Hayast says that the country is among a selection with “close line” agreements.
His comments come as Washington indicates its willingness to reduce customs tariffs to 10 % or less for countries that offer strong commercial proposals.
The Trump administration weighs offers from about 15 countries and aims to finalize many deals within weeks. The strategy is a transformation of comprehensive definitions towards a more selective approach based on incentives.
India and the United States were secured in high -level negotiations for a temporary deal, targeting a conclusion before the 90 -day mutual stopping ended on July 9.
Although there is no official confirmation that India will receive a decrease, it is considered a leading candidate.
The talks, led by the Minister of Commerce, Bio Joyal and US Trade Minister Howard Lottenic, focused on mutual concessions. India seeks to exempt from a 26 % suspended tariff and access to export customs duties such as textiles and shoes. In turn, it presented a less tariff on American agricultural products.
Currently, most Indian exports are still facing a 10 % tariff in the United States. The temporary agreement is expected to cover a limited set of goods and services, but it will lay the basis for a broader commercial agreement. Both governments aim to double bilateral trade to $ 500 billion by 2030.
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