India-U.S. trade deal unlikely until competitor countries probed, tariffed
An announcement of fresh 301 investigations against some of India’s competitor countries is likely soon, The Hindu has learned
India and the U.S. are unlikely to sign a trade deal until the U.S. conducts fresh investigations into India's competitors and imposes tariffs on them, a person familiar with the process has said. The delay is partly due to Pakistan not being included in the list of countries to be probed under Section 301 investigations. The U.S. could potentially impose a 100% tariff on India as part of the recently signed Lindsey O. Graham Sanctioning Russia and Iran Act.
This new law complicates the likelihood of a bilateral trade deal being signed, as it gives the U.S. government the authority to impose up to 100% tariffs on India and other top importers of Russian oil. The relationship between this new law and the likelihood of a trade deal is not straightforward, as sanctions can be suspended in the American national interest.
Additionally, the Trump administration is mindful of global oil prices and the midterm elections scheduled for November 3.
Written by urgent.news from The Hindu's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
