India Continues Trade Pact Despite Tariffs

India continues to negotiate with the United States to establish a bilateral trade agreement, despite Washington imposing new customs duties ranging from 10% to 12.5% on its imports from 60 countries, including India. These measures were taken because those countries did not take sufficient steps to reduce imports of manufactured goods produced using forced labor. The tariffs imposed on India are lower than the previously proposed rates, with exceptions for products such as medicines, smartphones, steel, and auto parts. While 45% of India's exports to the United States will remain duty-free, 55% will be subject to a 10% tariff. India is committed to continuing negotiations to reach a trade agreement that strengthens economic relations between the two countries, amid ongoing efforts since last year to address market access issues.

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