India's "final" trade deal offer to US: What's up?
India has put a revised "final" trade deal on the table for the US, asking for immediate removal of tariffs on things like walnuts, almonds, apples, industrial goods, and luxury motorcycles.
A big part of the proposal is dropping a 25% penalty tariff the US put on Indian imports linked to Russian oil—this would cut total duties from 50% to 25%.
Why should you care?
This deal could make American and Indian products cheaper for each other and boost business between the two countries.
Talks are nearly wrapped up after six rounds, with officials saying they're close to signing.
India wants to double trade with the US by 2030 (from $191 billion now to $500 billion), but high tariffs have been hurting Indian exporters—as the rupee remains undervalued.
A top US official, USTR Jamieson Greer, called India's offers "the best we've ever received."
If this goes through, it could mean more affordable imports—and more opportunities—for both countries.