GTRI warns India to tread carefully on US trade deal

The recently concluded limited trade deals between the United States and the United Kingdom present clues about the kind of trade arrangements Washington may pursue with India, the Global Trade Research Initiative (GTRI) said, cautioning the Indian negotiators.

- CORRESPONDENT

On Thursday, two countries announced a limited bilateral trade agreement that will soften the impact of US tariffs on many products that originated from the UK.

Under the agreement, the US will reduce tariffs on several key British exports.

Tariffs on cars have been cut from 27.5 per cent to 10 per cent for up to 100,000 vehicles annually, matching the UK's current export levels to the US.

Additionally, 25 per cent tariffs imposed on UK steel and aluminum under Section 232 have been fully eliminated.

Aerospace trade has also received a boost, with tariffs dropped on UK-made components like Rolls-Royce jet engines.

On the other side, the UK will open its market to more US agricultural exports.