India and US Nearing Trade Deal
According to sources, Indian and US negotiators are making progress in their talks, with both sides seeing eye to eye on most issues.
The negotiations, which are currently being held virtually, are focused on the technical and legal aspects of a bilateral trade pact. Sources note that there are no major gaps on issues, and discussions on non-tariff barriers are also proceeding.
Both sides are hopeful of delivering the first tranche of the trade deal by the fall, which is around November. Currently, India faces 50% tariffs on exports to the US, the highest among America's Asian trading partners.
India and the United States are close to striking a trade deal, with both the sides seeing eye to eye on most issues.
- Virtual rounds of talks are continuing.
- No major gaps on issues are being seen.
- Discussion on non-tariff barriers are also proceeding.
Author's summary: India and US are nearing a trade deal.
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