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US-India Trade Deal Makes Sharp Shift from Tariff Disputes
(MENAFN) The recent trade agreement between the United States and India marks a sharp shift from the tariff disputes that had characterized their economic relationship just months ago, with experts suggesting the move was influenced by India’s new free trade agreement with the European Union.
President Donald Trump announced the pact last week following a phone call with Prime Minister Narendra Modi, describing the arrangement as a step that will make the US’ “amazing relationship with India even stronger going forward.”
The agreement includes commitments to reduce tariffs on a wide range of goods, expand market access in key sectors such as energy, agriculture, and industrial products, and enhance cooperation on technology and supply chains. It also outlines measures to streamline customs procedures, protect intellectual property, and promote fair competition, according to a White House fact sheet released Monday.
Analysts note that the timing of Washington’s action appears strategic. The US deal was announced only weeks after India finalized its ambitious free trade agreement with the EU, a pact that could potentially make Europe India’s largest trading partner and challenge US access to India’s growing market.
“The India-EU FTA has the potential of making the EU India’s largest trading partner, leaving the US and China behind. This might have made Trump act faster,” said M. K. Venu, founding editor of The Wire and an Asian economic affairs commentator.
The commentary reflects broader concern in Washington that, without prompt action, the US risks losing economic and strategic advantages in strengthening ties with New Delhi.
President Donald Trump announced the pact last week following a phone call with Prime Minister Narendra Modi, describing the arrangement as a step that will make the US’ “amazing relationship with India even stronger going forward.”
The agreement includes commitments to reduce tariffs on a wide range of goods, expand market access in key sectors such as energy, agriculture, and industrial products, and enhance cooperation on technology and supply chains. It also outlines measures to streamline customs procedures, protect intellectual property, and promote fair competition, according to a White House fact sheet released Monday.
Analysts note that the timing of Washington’s action appears strategic. The US deal was announced only weeks after India finalized its ambitious free trade agreement with the EU, a pact that could potentially make Europe India’s largest trading partner and challenge US access to India’s growing market.
“The India-EU FTA has the potential of making the EU India’s largest trading partner, leaving the US and China behind. This might have made Trump act faster,” said M. K. Venu, founding editor of The Wire and an Asian economic affairs commentator.
The commentary reflects broader concern in Washington that, without prompt action, the US risks losing economic and strategic advantages in strengthening ties with New Delhi.
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