India Proposes Tariff Reduction to Secure U.S. Trade Deal

According to BlockBeats, India has proposed reducing its tariff differential with the United States from nearly 13% to less than 4% in an effort to secure a trade agreement with U.S. President Donald Trump. This move aims to gain exemptions from current and potential U.S. tariff increases. The proposed reduction would decrease the average tariff gap between India and the U.S. by 9 percentage points, marking one of the most significant efforts by the world's fifth-largest economy to lower trade barriers. The United States is India's largest trading partner, with bilateral trade reaching approximately $129 billion in 2024. Currently, the trade balance favors India, which has a trade surplus of $45.7 billion with the U.S.