India puts forth revised final deal to the US

India has offered the US a revised final deal, but its priority now is the removal of the additional 25% tariffs linked to Russian oil. As per the latest submission, India has offered to immediately remove tariffs on the import of items like walnuts, almonds, apples and industrial goods. However, these would be part of a larger Bilateral Trade Agreement, while India right now is focusing on the removal of the 25% tariffs. A US team led by Deputy US Trade Representative Rick Switzer was in New Delhi last week for two days for talks. The US currently imposes a 50% tariff on imports from India, including a 25% reciprocal tariff and a 25% penalty for India’s import of Russian oil. The two teams of negotiators have broadly done what they can; the ball is in Trump’s court to accept the deal or not, said a report.

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