What is holding up the US-India trade deal?
US Secretary of State Marco Rubio will visit India this week to discuss trade relations, despite ongoing tensions. The goal of the trip is to finalize the US-India trade deal, which has been delayed due to several factors. The interim deal, agreed upon in February, aims to lower reciprocal tariffs from 25% to 18% for the US and reduce duties on various goods for India.
However, the deal has faced challenges due to legal uncertainty surrounding Trump's tariff plans and concerns over new US regulations that could impact Indian interests. Recent tensions over energy imports and Washington's warmer ties with India's rival, Pakistan, have also hindered progress. The main sticking points include India's reluctance to expose its farmers to foreign competition and the US's desire for greater Indian purchases of US energy supplies.
Despite these hurdles, US exports to India have increased by 21% in August, reaching $8.3 billion, providing a potential boost to India's economy.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- What is holding up the US-India trade deal? dawn.com
- What is holding up the US-India trade deal? economictimes.indiatimes.com
- What is holding up the US-India trade deal? bangkokpost.com
