India Demands Tariff Edge Over Rivals Before US Trade Deal
New Delhi wants better tariff terms than competing nations before finalizing a trade pact with Washington, a minister says.
India is conditioning progress on a long-anticipated trade agreement with the United States on securing lower tariff rates than those offered to rival nations, Bloomberg reported Monday, citing Commerce and Industry Minister Piyush Goyal. The demand signals that New Delhi intends to use its negotiating leverage carefully before committing to any final deal.
Goyal's remarks reflect a strategic calculation by Indian officials: that agreeing to a trade pact without a preferential tariff advantage could leave domestic exporters at a competitive disadvantage relative to other countries that also trade heavily with the U.S. The stance suggests India is in no rush to close talks unless the terms clearly favor its economic interests.
Read more Kevin Warsh Moves to Quietly Reshape the Federal Reserve →
The disclosure adds a new layer of complexity to negotiations that have already stretched across multiple years and administrations on both sides. Washington and New Delhi have repeatedly signaled mutual interest in deepening trade ties, but sticking points over market access, tariffs, and regulatory standards have slowed momentum.
Analysts watching the talks note that India's approach mirrors a broader pattern of emerging-market economies driving harder bargains with major trading partners as global supply chains are restructured in the post-pandemic era. For the U.S., securing a deal with the world's most populous nation carries significant strategic and economic weight, particularly as both governments seek to reduce dependence on Chinese manufacturing.
Continue reading at Yahoo
