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This trade deal between Indo-US will be the first episode of 43 lakh crore trade by 2030.
US President Donald Trump has expressed the hope that there will be a trade deal between India and US soon, the tariff will also be less. Talking to the media, Trump said, the trade deal with India will be different.
India does not give concession to any country in terms of tariff. But I believe that both countries are going to benefit from this trade deal. Trump has a deadline of the deal on 9 July.
Prime Minister Narendra Modi met Donald Trump at the White House in February.
Indian delegation adamant on two conditions regarding the deal
- First- Trump tariff on India should be kept 10% or less in any case. The 26% tariff imposed on India in April will not be accepted by Trump in April.
- Second, India’s MSME (Micro, Small and Medium United) should be provided favorable conditions in the American market. It has leather, garment, james-julary and pharma.
India says that on the lines of GSP (JanraLizard System of Preference), there was a category of zero tariffs on Indian products. About 20% of Indian products did not have to pay tariffs from the GSP implemented until 2019.
US Defense Minister said- Defense deals pending with India will be soon
The US Defense Minister has said that the Indian Army is successfully using the defense deals made by India to India.
Hegseth hoped for a soon to sign a new 10 -year Defense Agreement. Hegseth said, military cooperation will increase in both countries.
Trump announced a tariff at the White House at Washington DC on 2 April 2025.
Possibility of final signature by the end of the year
According to the report, the two sides are considering this trade deal as the first episode of the proposed 43 lakh crore ($ 500 billion) bilateral trade agreement (BTA) by 2030.
They believe that this deal will be the basis of bilateral deal. The trade 2030 agreement between the two countries was signed during PM Narendra Modi’s visit to America in February.
This year, it is likely to be a final signature between the two countries by September-October. Representatives of the two countries say that to increase the trade, there should be shared action on reducing the tariff.
India will reduce tariffs on some American products
India says that if the US wants to reduce the currently running trade deficit with India, then it will have to give a better environment for Indian products in some sectors.
India has also announced a reduction in tariffs on some American products. Now there is a ball in America’s court.
According to JP Morgan’s report, if Trump’s tariffs are applicable to many countries even after July 9, then American employees may have to bear an additional burden of 7 lakh crores.
India will have 26% tariff due to lack of trade deal
If there is no agreement between India and the US till July 9, then India may levy 26% tariffs. From this day, Trump’s suspended tariffs will be implemented again.
On April 2, Trump announced to increase tariffs on around 100 countries around the world. It imposed 26% tariff on India. Then on 9 April, the Trump administration postponed it for 90 days.
Trump has given this time to countries like India to take decisions on the deal. News agency ANI quoted a senior officer as saying that if the conversation fails, the tariff structure of 26% will be applied again with immediate effect.
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