India - US Tariff and Relations | News + Updates

@Species

Not really, you can never get duty-free benefits under traditional arrangements.

Thanks, I stand corrected.

And AFAIK, India has also opened it's agricultural sector to the US.

Very marginally-stuff that we don't produce, fruits and nuts etc.

Regards
 
Ram ram ji,

I am afraid Sinha Sahab at Zee News might be getting worked up for no good reason and is comparing apples to oranges.

Bangladesh has now signed a detailed agreement with the US, which, including annexures, runs into several hundred pages. India has only agreed on a broad framework based on the understanding between Modi ji and Trump Sahab. The framework agreement does not preclude the possibility of Indian textile exports made from imported American cotton getting a similar preferential tariff segment as the one Bangladesh has secured. The situation is a bit more complicated, because India is a large producer of cotton, but it already does import a significant amount of American cotton, which, in general, is considered of a superior quality and cannot be substituted for by Indian cotton for products made to certain specifications.

I am quite confident that the nerds and bean counters negotiating the legalese and minutiae of the detailed agreement will work out a similar exemption for India because it is a win-win outcome that neither side has any reasonable grounds to oppose. In fact, I expect Pakistan, which is also both a substantial producer as well as importer of American cotton, to also be able to secure a similar exemption.
 
@RamBharose

Ram Ram ji Ram Bharose ji

Since you have gone through the US-BD trade agreement in great details, I am asking you. Have they removed tariffs on all US agri imports?

Regards
 
middle powers need to stand together or usa will run over them
 
SoulSpokesman said:
@RamBharose

Ram Ram ji Ram Bharose ji

Since you have gone through the US-BD trade agreement in great details, I am asking you. Have they removed tariffs on all US agri imports?

Regards
Click to expand...
Ram ram SoulSpokesman ji,

I have only browsed through it for a few minutes, though, if I may say so, I am a fast reader.

The short answer to your question is No. There are four tariff categories in the agreement: 1) all tariffs immediately cut to zero 2) tariffs immediately cut to half and progressively going to zero in 5 years 3) tariffs immediately cut to half and progressively going to zero in 10 years 4) items that are excluded ( coded as X in the detailed tariff table).

I have not gone through the ~300 page table to find out which line items are coded "X", but I am assuming some must exist. However, comparing the broad text of the two "agreements", which are admittedly not apples to apples, the number of American agricultural goods line items that will be able to enter Bangladesh duty-free is substantially larger compared to India. For example, dairy and meat products, including halal, among others, are mentioned in the broad text of Bangladesh agreement and absent in the Indian one.
 
The fact related to India's proposed purchase of goods from the United States has been modified. The earlier text had stated that India was "committed" to make a purchase of $500 billion from the country, now it has been changed to "intend."

In the earlier version of the document, Washington had said, “India will eliminate or reduce tariffs on all U.S. industrial goods and a wide range of US food and agricultural products, including dried distillers’ grains (DDGs), red sorghum, tree nuts, fresh and processed fruit, certain pulses, soybean oil, wine and spirits, and additional products.”

The updated factsheet no longer carries any mention of pulses.

timesofindia.indiatimes.com

Pulses dropped, $500bn purchase clause revised: What’s new in updated India-US trade deal factsheet - The Times of India

India Business News: The United States has revised its factsheet on the recently announced “historic trade deal” with India, removing a reference to pulses, changing the w.
timesofindia.indiatimes.com timesofindia.indiatimes.com
 
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r3alist said:
Seems like the negotiation is still ongoing.
Click to expand...

Yeah, seems like they’re still ironing out the fine print. Both sides have already claimed victory publicly, Trump more loudly than anyone, so the circus phase is done. That actually removes a lot of political pressure and lets the negotiators work quietly.

And you can already see the shift. The $500B purchase commitment has been substantially diluted, it now reads more like a broad intent rather than a binding promise.
 
vasanthm said:
Yeah, seems like they’re still ironing out the fine print. Both sides have already claimed victory publicly, Trump more loudly than anyone, so the circus phase is done. That actually removes a lot of political pressure and lets the negotiators work quietly.

And you can already see the shift. The $500B purchase commitment has been substantially diluted, it now reads more like a broad intent rather than a binding promise.
Click to expand...
Didn't lutnick say he will monitor Indian oil purchases.

Feels like the vagueness gives USA room to change things
 
r3alist said:
Didn't lutnick say he will monitor Indian oil purchases.

Feels like the vagueness gives USA room to change things
Click to expand...

Yea like ignore it if it's not a PR issue for them and with the $500B, they seem happy as long as there’s some vague intention on paper. India has no shortage of intentions anyway 😂

Even the whole opposition to the Indian tax on digital services affecting US companies has now been silently dropped.
 
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