India and US work to wrap up trade deal
India and the US are working to wrap up a trade deal, with talks now covering things like customs rules and non-tariff barriers.
The Office of the US Trade Representative team visited India recently to speed up negotiations that have been going on for over a year.
An official statement described the discussions as "a spirit of cooperation and pragmatism," showing they're serious about getting this agreement done.
US proposes tariffs amid near-final pact
While these talks were happening, the US proposed raising tariffs on imports from India (and 50-plus other countries) to tackle goods linked to forced labor, with a 10% current levy set to expire next month and a proposed 12.5% additional tariff.
The current tariff expires next month, so what happens next is still up in the air.
Despite this, officials say the legal text of their new trade pact is nearly finished, aiming to strengthen bilateral trade and economic ties.