In order to reach a trade agreement with Trump, India proposed to cut two-thirds of the tariff difference.

2025-05-09 15:51:04

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[In order to reach a trade agreement with Trump, India proposed to drop two-thirds of the tariff gap] Two sources said that in order to reach a trade agreement with Trump, India has proposed to reduce the tariff gap with the United States from nearly 13% to less than 4% in exchange for Trump’s exemption from current and potential tariff increases. This would mean that the average tariff gap between India and the United States (calculated across all products, not considering trade volumes) would decrease by 9 percentage points, which is one of the most thorough changes made by the world’s fifth-largest economy to lower trade barriers. The United States is India’s largest trading partner, with a bilateral trade volume of about $129 billion in 2024. The current trade balance is favorable for India, with an trade surplus of $45.7 billion for India against the United States. (金十)

TRUMP0,11%

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