Can Goyal's Washington Mission Defuse the Tariff Time Bomb?

US President Donald Trump on April 2 announced reciprocal  nations, including India, for imposing high duties on American goods. In the precursor report, India was described as having auto tariffs that exceeded 100%, with potential annual losses pegged at $7 billion. Commerce Minister, Piyush Goyal, is in Washington for urgent talks with US officials to resolve such tensions and advance the India-US Bilateral Trade Agreement. Even though India is ready to lower tariffs on industrial goods, it remains adamant about protecting agricultural tariffs. By 2030, the two nations hope to double bilateral trade to $500 billion and resolve tariff spats in the first phase of the trade deal by fall 2025. 

 

Source: Financial Express