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India offers to slash tariff gap to 4% in dash to seal trade pact with USAwww.reuters.com/world/india/india-offers-slash-tariff-gap-by-two-thirds-dash-seal-trade-pact-with-trump-2025-05-09
420 sats \ 2 comments \ @Coinsreporter 6h econ
Key Points
  • India offers to narrow tariff gap with U.S. to under 4%
  • India wants exemption from all "current, potential" tariff hikes
  • India ready to give preferential access to 90% of U.S. goods
  • India wants U.S. to align it with allies on critical tech
The United States is India's largest trading partner, with bilateral trade totalling some $129 billion in 2024. The trade balance is currently in favour of India, which runs a $45.7 billion surplus with the U.S.
Why not zero% for both sides? If that's done there would be no need of dealmakers I guess.
I also think it would be better for India as we'll be getting cheaper iphones and maybe I change my mind and but one.
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21 sats \ 1 reply \ @Undisciplined 6h
That third bullet point is probably the biggest. India is pretty well-known for its high non-tariff barriers, so opening the markets to US imports is a bigger deal than lowering tariff rates.
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26 sats \ 0 replies \ @Coinsreporter OP 5h
Yea, you're right. I think it's time when India becomes an open economy, making things easier for foreign investment as well.
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