Tariffs on steel, auto unlikely in interim trade deal with US: Government sources
A fair deal was proposed to help India's labour-intensive sectors, government sources said, adding that they did not budge on sectors important to India, like rice, dairy, wheat and other genetically modified crops.Trump, who has previously called India a big abuser of tariffs and a "tariff king", had announced a 26 per cent duty on Indian products as part of his April 2 "Liberation Day" reciprocal tariffs. The US President later suspended the tariffs for 90 days, allowing countries to strike a deal with the US.A major sticking point has been India's hard stance on not reducing tariffs on American agricultural imports such as maize and soybeans. The Trump administration's demand for wider access to the dairy sector, which employs over 80 million people in India, has also been a bone of contention.On the other hand, India has demanded greater access to US labour-intensive industries, including textiles, gems and jewellery, leather goods, and chemicals.Sources earlier told news agency Reuters that India has offered tariff cuts on almonds, pistachios and walnuts and was willing to extend preferential treatment for American imports in sectors like energy, autos and defence.Earlier, Union Commerce Minister Piyush Goyal asserted that India would enter into a trade agreement with the US only if its interests were protected. He underscored that India would not compromise the interests of the farm and dairy sectors.Prime Minister Narendra Modi and Trump agreed in February to conclude the first phase of a bilateral trade agreement by autumn 2025 and to expand trade to USD 500 billion by 2030, from about USD 191 billion in 2024.- EndsTune In
IN THIS STORY#United States of America#Donald Trump#Narendra Modi#Tariffs
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