India-US Trade Deal “Not Too Distant,” Says US Commerce Secretary
Thank you for reading this post, don't forget to subscribe!Good news on the India-US trade front! US Commerce Secretary Howard Lutnick announced Monday that a trade deal between the two nations is likely in the “not too distant future.” He believes both countries have found a “place that really works.”
This optimistic outlook comes as US officials visit India this week to iron out an interim trade agreement. India’s Commerce Minister Piyush Goyal recently pushed for these talks in Washington.
While Lutnick is a “great fan” of India, he’s keen to see India’s tariffs brought down to a “reasonable and appropriate” level. India, meanwhile, is seeking a full exemption from the US’s 26% tariff on its goods, especially with the July 9 deadline for avoiding sweeping tariffs looming.
Ultimately, both countries aim to more than double bilateral trade from $191 billion to $500 billion by 2030, building on plans to negotiate a Bilateral Trade Agreement (BTA) by late 2025.
