Our very important ally, India, is looking to make a deal for zero tariffs on steel, auto parts, and pharmaceuticals imported from the US.
India Times reports that India is offering reciprocal zero-to-zero tariffs up to a certain quantity of imports on those items.
Imported industrial goods would attract the regular level of duties, sources told the outlet.
The two nations are prioritizing certain sectors to strike an early trade deal before the end of the 90-day pause on US President Donald Trump’s tit-for-tat tariffs, the sources said.
Amid a contraction in the US economy, Trump suggested Sunday that some trade deals could be sealed as soon as this week, offering the prospect of relief for trading partners seeking to avoid higher US import duties.
Asian economies, including South Korea, Japan, and India, are among the nations leading the race for reaching interim deals with his administration.
Washington has also allegedly asked India to resolve its concerns around Quality Control Orders, which it considers a non-tariff trade barrier for its exports. The mandatory quality standards, which lay down benchmarks that both local and foreign manufacturers must meet before selling their goods in India, have been criticized for being non-transparent and unfair.
India is considering it in certain sectors.
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