India is engaging in discussions to reduce tariffs on US agricultural imports, such as almonds and cranberries, aiming to enhance trade relations with the United States. These negotiations, conducted with Brendan Lynch, the Assistant US Trade Representative for South and Central Asia, focus on easing trade restrictions and improving market access.
The Indian government has suggested lowering import duties on US products, including almonds, walnuts, cranberries, pistachios, and lentils. This initiative is part of India's strategy to avert new trade barriers and finalize a bilateral trade agreement, anticipated to conclude by the week's end.
Union Trade Minister Piyush Goyal stated that the trade discussions are "progressing well," with efforts directed towards a mutually beneficial agreement. A government source indicated that India is aligning its proposals with US demands, particularly concerning the agricultural sector. However, there is hesitance to lower tariffs on dairy products, rice, wheat, and maize.
Current tariffs on items like cranberries, almonds, and walnuts range from 30% to 100%, while lentils face a 10% duty. In exchange, India seeks enhanced US market access for its exports, including pomegranates, grapes, and rice.
The framework for the first phase of a broader trade deal is expected by autumn 2025. In 2024, US exports to India of agricultural and related products were valued at nearly $2 billion, while India's exports to the US totaled approximately $5.5 billion.
Source: India Today