Govt. officials from India had gone to Washington and is currently doing the constant negotiations having 1st August 2025 as a deadline.
Currently discussions are going on and it is expected that India has to settle at 10-15% for trade deal. Countries like Indonesia and Vietnam are reported to have 19% and 20% tariff which seems that the position of India is going to be much better that these two developing nations.
It is also made clear by USA that base tariff will remain and labour intensive exports including apparel, gems & jewellery etc seeks 10% while non labour intensive items to 15%.
Currently legal battle is going on in USA questioning legality of reciprocal tariff which on Trump said if they loses India will be subjected to earlierMFN (non discriminatory charges).
There is another statement coming from Trump saying that all those purchases Russian oil will be imposed 100% tariff as well as BRICS members will also face 10% in order to prevent dedollaristaion.
