USISPF & US Chamber of Commerce welcome India–US trade deal momentum

The reduction in India’s reciprocal tariff from 25 per cent to 18 per cent is a positive first step, even as detailed terms are awaited. The forum noted that the announcement points to progress on a comprehensive Bilateral Trade Agreement covering tariffs, market access, non-tariff barriers and sector-wide trade issues, with further negotiation phases expected in the coming months.

USISPF reaffirmed its commitment to working with both governments to expand bilateral trade toward the $500 billion target and strengthen resilient supply chains across the Indo-Pacific.

Separately, US Chamber of Commerce president and CEO Suzanne P Clark welcomed the development, congratulating both governments for steps to reduce tariffs and non-tariff barriers.

“We are optimistic that this is the first step toward a comprehensive trade agreement that will unlock even more private sector collaboration, and we look forward to reviewing the details of the deal. The Chamber, our US-India Business Council, and our members are strong champions of this effort, and we look forward to partnering with both governments to implement today’s announcement,” Clark said in a release.

US senator Jim Risch (R-Idaho), chairman of the Senate Foreign Relations Committee, said, “Congratulations to President Trump for a superb accomplishment on today’s trade agreement with India. I am very glad to learn that the world’s oldest and largest democracy has agreed to reduce trade barriers with the United States. India is a close partner of the United States, with a prominent diaspora in our country, and an integral partner in countering China's malign influence in the Indo-Pacific. Now, under this new agreement India has pledged to buy American. It will also help the US counter Russian aggression and in its work to bring an end to Russia’s war against Ukraine by cutting off India’s support of the Russian energy sector.”

Fibre2Fashion News Desk (HU)