India-US Trade Deal Update: Expected Tariff Reductions
A much-awaited mini trade deal between India and the United States is set to be announced today, July 8, by 10 PM, according to reports from CNBC Awaaz. Sources indicate that both nations are ready to outline their agreement, with more detailed information to be provided later.
While the US will maintain the previously announced 10% baseline tariffs after the deal, specific sectors that heavily rely on labor, such as textiles, garments, and leather goods, could see lower tariff rates as part of this agreement.
However, contentious issues remain with agro and farm products, which will not be included in this mini trade deal, as further stated by CNBC Awaaz.
