India-US
White House quietly revises India-US trade deal factsheet
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The White House has made key revisions to the factsheet on the India-US trade deal just hours after its release. These include removing tariffs on certain pulses from the list and changing the $500 billion purchase commitment to an intention. The changes are seen as beneficial for India.
The U.S. and India are close to finalizing an interim trade deal, but gaps persist over pulses and the pacing of tariff reductions. “We’re not that far off from finalizing the interim trade deal, but some gaps remain,” a U.S. official told The Hindu. Washington officials are now addressing details following a Supreme Court ruling.
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The United States has imposed a 125.87% countervailing duty on Indian solar modules, affecting domestic companies in India. This measure could lead to lower module prices as exporters redirect unsold inventory back home. Indian manufacturers targeting the US face reduced revenue visibility.