{"id":31717,"date":"2025-05-22T14:00:18","date_gmt":"2025-05-22T08:30:18","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=31717"},"modified":"2025-05-22T14:00:18","modified_gmt":"2025-05-22T08:30:18","slug":"india-seeks-full-tariff-waiver-in-interim-trade-pact-with-us-report","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/india-seeks-full-tariff-waiver-in-interim-trade-pact-with-us-report\/","title":{"rendered":"India Seeks Full Tariff Waiver in Interim Trade Pact with US: Report"},"content":{"rendered":"

India is pushing for complete relief from both the 26% additional reciprocal tariff and the existing 10% baseline US duty in an interim trade agreement likely to be finalised before 8 July, according to a report by The Hindu Business Line<\/em>.<\/p>\n

Hon\u2019ble Commerce & Industry Minister Shri Piyush Goyal visited Washington earlier this week to fast-track the negotiations. He met with US Trade Representative Jamieson Greer and US Commerce Secretary Howard Lutnick to advocate for key concessions across India’s labour-intensive sectors\u2014particularly textiles, leather, and gems and jewellery.<\/p>\n

An official told The Hindu Business Line<\/em> that talks are progressing positively and that the goal is to announce a first-phase deal ahead of the 9 July\u00a0 deadline, when the 90-day suspension of the additional tariffs is set to expire. The interim agreement could include provisions related to goods, services, digital trade, and the easing of non-tariff barriers.<\/p>\n

The US imposed the 26% tariff on Indian exports on 2 April as part of a reciprocal measure but deferred implementation until 9 July. While the suspension provides a temporary reprieve, the existing 10% baseline tariff remains in force. India is now seeking to eliminate both.<\/p>\n

To protect its own sensitive sectors\u2014like agriculture and dairy\u2014India may offer minimum import prices or quotas as part of the deal. In exchange, it is pushing for expanded market access for products such as gems and jewellery, garments, plastics, chemicals, shrimp, grapes, and bananas.<\/p>\n

Meanwhile, the US is demanding duty relief on industrial goods, electric vehicles, petrochemical products, wines, dairy, and genetically modified crops. Negotiations are being conducted in a tight window as both nations attempt to leverage the tariff pause to conclude the first tranche of the bilateral trade agreement.<\/p>\n

As per The Hindu Business Line<\/em>, both sides are aiming to double bilateral trade to $500 billion by 2030. The US has consistently raised concerns about India\u2019s non-tariff barriers and its growing trade surplus. In FY2024-25, bilateral trade stood at $131.84 billion, with India maintaining a surplus of $41.18 billion.<\/p>\n

The US has been India\u2019s largest trading partner for four consecutive years and currently accounts for around 18% of India\u2019s total goods exports.<\/p>\n","protected":false},"excerpt":{"rendered":"

India is pushing for complete relief from both the 26% additional reciprocal tariff and the existing 10% baseline US duty in an interim trade agreement likely to be finalised before 8 July, according to a report by The Hindu Business Line. Hon\u2019ble Commerce & Industry Minister Shri Piyush Goyal visited Washington earlier this week to…<\/p>\n","protected":false},"author":1,"featured_media":31718,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-31717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\nIndia Seeks Full Tariff Waiver in Interim Trade Pact with US: Report - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/india-seeks-full-tariff-waiver-in-interim-trade-pact-with-us-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India Seeks Full Tariff Waiver in Interim Trade Pact with US: Report - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"India is pushing for complete relief from both the 26% additional reciprocal tariff and the existing 10% baseline US duty in an interim trade agreement likely to be finalised before 8 July, according to a report by The Hindu Business Line. Hon\u2019ble Commerce & Industry Minister Shri Piyush Goyal visited Washington earlier this week to…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gjepc.org\/solitaire\/india-seeks-full-tariff-waiver-in-interim-trade-pact-with-us-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-22T08:30:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2025\/05\/US-Secretary.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\",\"url\":\"https:\/\/gjepc.org\/solitaire\/\",\"name\":\"Solitaire magazine is a International jewellery magazine - India\\u2019s leading B2B gem and jewellery magazine\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/gjepc.org\/solitaire\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/india-seeks-full-tariff-waiver-in-interim-trade-pact-with-us-report\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2025\/05\/US-Secretary.jpg\",\"width\":1000,\"height\":600},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/india-seeks-full-tariff-waiver-in-interim-trade-pact-with-us-report\/#webpage\",\"url\":\"https:\/\/gjepc.org\/solitaire\/india-seeks-full-tariff-waiver-in-interim-trade-pact-with-us-report\/\",\"name\":\"India Seeks Full Tariff Waiver in Interim Trade Pact with US: Report - Solitaire magazine is a International jewellery magazine - India\\u2019s leading B2B gem and jewellery magazine\",\"isPartOf\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/india-seeks-full-tariff-waiver-in-interim-trade-pact-with-us-report\/#primaryimage\"},\"datePublished\":\"2025-05-22T08:30:18+00:00\",\"dateModified\":\"2025-05-22T08:30:18+00:00\",\"author\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gjepc.org\/solitaire\/india-seeks-full-tariff-waiver-in-interim-trade-pact-with-us-report\/\"]}]},{\"@type\":[\"Person\"],\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\",\"name\":\"GJEPC\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f6c5b479a8ec14da0f88385e2b6cd51ccb37ac80c31409ecaebe5524700952a2?s=96&d=mm&r=g\",\"caption\":\"GJEPC\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/31717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/comments?post=31717"}],"version-history":[{"count":1,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/31717\/revisions"}],"predecessor-version":[{"id":31719,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/31717\/revisions\/31719"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media\/31718"}],"wp:attachment":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media?parent=31717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/categories?post=31717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/tags?post=31717"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/thb-sponsors?post=31717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}