All posts tagged: how much will india buy from US

What will India import? The 0 billion key question answered| India News

What will India import? The $500 billion key question answered| India News

Between Monday’s announcement of an India-US trade deal and Saturday’s joint statement with finer details, a big question, worth $500 billion, remained. While US tariffs on Indian produce were reduced from 50 per cent to 18 per cent, it was not clear what India would import from the United States. However, that has now been answered. US President Donald Trump and Prime Minister Narendra Modi announced the India-US trade deal on Monday. (Reuters) A detailed framework for an interim trade deal was released in a joint statement on Saturday, confirming reduced US tariffs, both countries’ commitment to zero duties on select products, market-opening measures, and an overall deeper economic relationship. ALSO READ | What does the trade deal with US mean for India? Key points for Delhi in the details so far The trade deal also gives India a competitive edge over other countries, such as China, Vietnam, Indonesia, Bangladesh and Pakistan, all of which have higher tariffs than New Delhi. China’s products carry tariffs of 33 per cent, Vietnam and Bangladesh 20 per cent, …