Gaps persist on sensitive issues in the proposed US-India trade pact, even as both sides pursue an interim framework aimed at expanding market access and narrowing India’s $58.2-billion trade surplus with the US in 2025, according to the 2026 Trade Policy Agenda released by the Office of the United States Trade Representative. The report outlines tariff eliminations or reductions by India on US industrial goods and farm products, alongside commitments to ease non-tariff barriers in medical devices, ICT goods and agriculture. However, a Supreme Court of the United States ruling invalidating reciprocal tariffs has altered the landscape, replacing the earlier 25% India-specific levy with a 10% global tariff. Analysts say the shift strengthens India’s negotiating position. Despite this, Washington continues to push ambitious obligations under its America First strategy, while New Delhi seeks clarity before resuming formal negotiations, according to a report.
Please visit our youtube channel https://www.youtube.com/@ikargos2719 for fortnightly logistics news analysis and more!