The United States has sent high-level trade representatives to India for talks accompanied by Brendan Lynch, the United States Assistant Trade Representative, along with a host of officials from March 25-29, and now India seeks to offset some of the impending reciprocal tariffs…expected to be applied on April 2, 2023.
By raising these tariffs, Indian officials are anticipating a more amicable trade arrangement with the United States. Steps have already been undertaken by both nations to increase bilateral trade, following the visit of Prime Minister Modi to the White House at the beginning of this year. Once the two countries come to an agreement in principle, they will work on the draft before the set deadline of November.
While in India, Lynch is scheduled to meet with Indian officials, including his Foreign Secretary counterpart, Vikram Misri. This discussion forms an important part of the efforts in managing unending trade disputes, especially with the US’s ongoing grievances regarding India’s Imposition Tax, which was previously critiqued by Retired President Trump as being detrimental to American enterprises.
To assuage those claims, India has predetermined some trade policies like lowering import tax of some items including bourbon whiskey and Harley Davidson mastodons. Also, Indian officials are contemplating further inclination on custom duties on some other items such as automobiles, some chemical fertilizers and pesticides, and certain food products.
The development will be reciprocal as both countries are eager to increase trade for political goodwill; these talks will afford an opportunity to bridge the already existing trade gaps and in return increase economic engagement, including but not limited to forging contracts in the defence and energy markets.
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