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India-US ‘trade deal’: What does India gain from it?
Earlier this week, President Donald Trump announced on social media that India and the US have agreed on a historic trade deal, or at least the broad framework for one. Under the agreement, the US will reduce tariffs on Indian goods from 50% to 18%. India will reduce tariffs on all American goods to zero, and eliminate all non-tariff barriers.
Trump also announced that India has agreed to import American goods worth $500 billion. To put this figure in perspective, American imports to India are currently at $50 billion. Also, US Secretary of Agriculture Brooke Rollins has claimed that, under…
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