A TWO-WAY trade deal under negotiation between India and the United States can be finalised after the conclusion of Section 301 unfair trade practices investigations by Washington, an Indian trade official said yesterday.
India would seek an assurance from the US that it will not be subjected to additional tariffs in future after the deal, the official said.
The conclusion of the probe is important as the temporary 10 per cent additional tariffs imposed by the US will end on July 24. After that, only the MFN (most favoured nation) tariffs will apply on the USA’s trading partners.
“So if the US want us to pay any additional tax...they have to finish the Section 301 process before that,” the official said.
This came after the Trump administration recently proposed 12.5 per cent tariffs on India and 53 other countries after a United States Trade Representative (USTR) investigation under Section 301 of the US Trade Act of 1974 concluded that these countries did not impose a legal prohibition on the import of goods produced wholly or partly through forced labour.
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