#services trade

[invisionnews]

India-US Likely to Launch Phased Trade Deal: Tariffs First, Broader Issues Later

New Delhi and Washington are reportedly close to finalizing a major bilateral trade agreement structured in two phases, according to a senior Indian trade official. The initial phase will focus on resolving reciprocal tariffs, while the second phase is expected to tackle broader trade issues such as services, digital trade, and non-tariff barriers.

Phase One: Reciprocal Tariffs

The official told Reuters that the two countries “could soon agree to address reciprocal tariffs as part of the first part of the agreement.” This initial focus aims to remove trade frictions and create a smoother framework for bilateral commerce before addressing more complex structural issues.

The tariff resolution will be included in the broader bilateral trade pact, which India and the US have been negotiating for months. “We should get a closure soon,” the official added, according to PTI.

Phase Two: Broader Trade Issues

Once tariffs are resolved, the second phase of the agreement will address services, digital trade, and non-tariff barriers, allowing for a more comprehensive trade relationship that covers emerging sectors and modern trade challenges.

Concurrent Energy Agreement

On the same day, India announced a landmark energy deal with the US, under which it will import approximately 10% of its annual liquefied petroleum gas (LPG) requirements from American suppliers. This is being described as India’s first-ever structured LPG agreement with the US, aimed at diversifying energy sources and ensuring supply security.

Positive Outlook on India-US Trade Talks

Earlier this month, NITI Aayog CEO BVR Subrahmanyam expressed optimism that some positive news on the long-delayed India-US trade agreement would emerge by the end of November. The phased approach indicates a pragmatic strategy by both countries to achieve quick wins on tariffs, while allowing time to negotiate deeper structural reforms.

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What Is So Important About The Certified Financial Planner Notarized statement?

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