ET Graphics: A look into key numbers as India and US revive trade talks

India and the US have resumed discussions on a limited trade deal to address the trade imbalance. Key outcomes include lower tariffs on US goods and resolved disputes under the WTO. High tariffs remain on Indian textiles, garments, and footwear, w...

PTI

India and the US have revived talks for a limited scope trade deal as Washington seeks to cut its trade deficit.

ET takes a look at the numbers:

Concessions India gave to US

• Lower tariffs on bourbon, motorcycles, ICT products, metals
• Higher market access for US agri products
• More American medical devices sold in India

WTO ISSUES RESOLVED

• Countervailing measures on certain hot-rolled carbon steel flat products from India
• India’s export related measure
• India’s measures for solar cells, modules
• US’ measures related to renewable energy
• US’ measures on steel, aluminium products
• Additional duties on certain products from the US

Reciprocal tariffs

• US to levy matching tariffs on Indian goods
• USTR to decide reciprocity based on product, sector
• India faces 15-35% duty on textiles, garments, footwear
• Minimal impact on India-Less than 5% tariff on 75% US exports to India
• High tariffs on Indian labour intensive goods

Other partnerships

• 4-pillared Indo-Pacific Economic Framework
• Initiative on Critical and Emerging Technology for semicon manufacturing

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