US EditionBig relief for India soon? US mulls interim trade deal, may cut tariff below 20%
INDIA, JUL 14 – The interim deal may set tariffs below 20% and allow ongoing talks while addressing agricultural and pharmaceutical barriers, with bilateral trade valued at $129 billion in 2024.
- The United States announced proposed tariffs of up to 30% starting August 1 on key trade partners including the EU and Mexico, affecting ongoing India-US talks.
- India is carefully examining US demands for soybean and corn imports with strict non-GM certification amid difficulties in segregating GM and non-GM crops in the US.
- Experts and the Global Trade Research Institute urged India to avoid rushing into trade deals that could irreversibly harm agriculture and stressed that US pressure affects many countries.
- The US has sent tariff letters imposing up to 50% rates to 24 countries including the EU, while only the UK and Vietnam have accepted the US's one-sided trade terms so far.
- An interim India-US trade deal may lower tariffs below 20% and allow continued negotiations, but experts warn such agreements may not survive future shifts in US politics.
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Coverage Details
Total News Sources36
Leaning Left2Leaning Right8Center3Last UpdatedBias Distribution62% Right
Bias Distribution
- 62% of the sources lean Right
62% Right
15%
C 23%
R 62%
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