U.S. – India Closing In On Trade Agreement

Dan Industry News Release, Trade

India and the United States are currently in negotiations on a trade package.

indiaReuters says Washington and New Delhi are looking to remove some long-standing disagreements between the two countries that would strengthen ties. Initial reports say it looks like Indian farmers and U.S. medical device manufacturers could be some of the early winners in the deal. The two countries have been going back-and-forth on steel tariffs, as well as duties on agricultural products. The two sides began talks in June. India is unhappy with U.S. steel tariffs and the U.S. has problems with a tariff on imported IT equipment.

A source with knowledge of the negotiations tells Reuters, “We are closely negotiating a discreet package of trade issues and it will amount to a pretty substantive agreement.” The source says both sides expect the negotiations to wrap up within a few weeks.

U.S. President Donald Trump recently said India came to the United States to “start doing a trade deal.” However, he didn’t provide a lot of specifics about the potential agreement.

Source: National Association of Farm Broadcasting News Service.