US-India Trade Deal Talks: Navigating Lopsided Agreements
US President Donald Trump hints at a US-India trade deal akin to the US-Indonesia pact. The deal faces scrutiny from India's economic think tank GTRI, which warns of potential risks to domestic sectors. Key negotiation points include tariffs on agriculture, dairy, steel, and automobiles.
- Country:
- India
US President Donald Trump has hinted at a possible trade deal with India, reminiscent of the agreement recently finalized with Indonesia. The US-Indonesia pact allows full access to Indonesian markets for US goods while imposing a 19% duty on Indonesian products entering the US.
Trump's remarks came during discussions about achieving reciprocal trade access, especially in countries previously closed off to American products. The Indian delegation is currently in Washington for negotiations on a bilateral trade agreement.
Economic experts advise caution, highlighting the risks of lopsided agreements that could expose vulnerable sectors in India, such as dairy and agriculture, to unrestricted US imports. Negotiations are ongoing, with both parties aiming to finalize interim terms by fall 2023.
(With inputs from agencies.)
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