India, US mini trade deal with 10 pc tariff likely

 

The India-US trade deal may be finalised ahead of the July 9 deadline outlined by President Donald Trump. Reports suggest that a mini agreement with average tariffs around 10% is likely to be announced within the next 24 to 48 hours. The update came even as the POTUS readied tariff letters for 12 unnamed countries and Union Minister Mr Piyush Goyal insisted that India does not negotiate under deadlines. Negotiations have already concluded for a mini trade deal with an average tariff of 10%, reports said. The early harvest deal is likely to have annual quotas for lower tariffs on certain labour-intensive products from India. Certain American agricultural products, such as pecans and blueberries, may be eligible for lower tax rates. There are no concessions on wheat, rice, maize, dairy and genetically modified crops, as per a report.

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