Why did the U.S. impose tariffs on India?

The U.S. imposed tariffs on India primarily due to India's continued purchases of Russian oil.

What are India and the U.S. discussing in New Delhi?

India and the U.S. are discussing bilateral trade and economic ties, including a potential trade agreement and U.S. tariffs on Indian goods.

How have U.S. tariffs affected Indian exports?

The U.S. tariffs have significantly impacted Indian exports, leading to a nearly 9% year-on-year decrease in October for goods like textiles and chemicals.

Home / Business and Economy / India Seeks Tariff Relief in U.S. Trade Negotiations

India Seeks Tariff Relief in U.S. Trade Negotiations

10 Dec

•

Summary

India's Commerce Secretary met U.S. Deputy Trade Representative in New Delhi.
India seeks relief from U.S. tariffs imposed on Russian oil purchases.
Exports to the U.S. experienced a nearly 9% year-on-year decrease in October.

India Seeks Tariff Relief in U.S. Trade Negotiations

High-level trade discussions are underway between India and the United States in New Delhi. Commerce Secretary Rajesh Agrawal engaged with U.S. Deputy Trade Representative Rick Switzer to advance negotiations on a bilateral trade agreement. A primary focus of these talks is India's urgent need for relief from substantial U.S. tariffs, implemented due to India's continued purchases of Russian oil.

These tariffs, which saw a significant doubling in August, have negatively impacted crucial Indian exports such as textiles, chemicals, and food items like shrimp. The economic repercussions are evident, with India's exports to the U.S. declining by nearly 9% year-on-year in October. Despite this, exports saw an uptick compared to the previous month.