India has made a special offer to the United States to quickly wrap up a trade agreement. It has agreed to a rare rule called the “forward most-favoured-nation” clause. This means that if India gives any future trade benefit to another country, the same will automatically apply to the U.S. too. India hopes this move will help avoid old high tariffs and make it a key player in America’s supply chains.
As part of the offer, India is ready to sharply lower taxes on American farm products like meat, fish, and fruits. These taxes, which were once as high as 100%, could fall to just 0–5% very soon. In exchange, India wants the U.S. to lower tariffs on Indian goods like textiles, medicines, toys, and engineering items, making it easier for Indian companies to sell in the American market.
According to U.S. Treasury Secretary Scott Bessent, the final deal could be ready within weeks. This would allow both nations to avoid new tariffs set to begin in July, giving a major boost to trade ties and opening new doors for businesses on both sides.
Source: Reuters.
