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India Pushes for Trade Deal Despite New Duties
India has confirmed that it will continue negotiations with the United States to establish a bilateral trade agreement, despite Washington imposing new tariffs of 10% on Indian imports as part of measures affecting 60 trading partners. The new tariffs are lower than the previously proposed rate of 12.5% and exclude key sectors such as smartphones, pharmaceuticals, metal industries, and auto parts. Negotiations are ongoing, with a focus on sectors including textiles, aiming to reach an agreement that strengthens economic relations between the two countries. It is expected that around 55% of Indian exports to the U.S. will be affected by the new tariffs, while 45% will be exempted thanks to exemptions. However, the manufacturing sector may face increased competitive pressures compared to other Asian countries.
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