US Promises India Tariff Edge in Trade Pact

The United States has assured India of a comparative tariff advantage over competing economies within their proposed bilateral trade agreement. Negotiations for the initial tranche and the broader pact are progressing simultaneously, with an aim to conclude the first phase by the end of the current financial year.

Discussions last week involved customs and trade facilitation, with a US delegation visiting India for talks. Services-related issues are scheduled to be addressed in the second phase of the agreement, not in the initial package.

External Affairs Minister S. Jaishankar stated that most issues concerning the proposed trade deal have been resolved. He indicated the agreement is approaching its final stages, with some remaining concerns being addressed, suggesting progress has been made on the American side as well.