JK News Today
Key Takeaways
· India secured preferential access to a USD 30 trillion U.S. market
· Textiles & apparel gain tariff cuts from 50% to 18%, with silk securing 0% duty access in a USD 113 billion U.S. market
· Machinery exports see tariffs reduced to 18%, opening opportunities in a USD 477 billion U.S. market
· USD 1.36 billion of Indian agricultural exports receive zero additional U.S. duty access
· Key products including spices, tea, coffee, fruits, nuts and processed foods gain zero-duty treatment
· Highly sensitive sectors such as dairy, meat, poultry and cereals remain fully protected
· What India gets?
a. Highly competitive rate of 18% on $ 900 bn worth of global imports of the U.S.
b. Zero duty on $ 150 bn worth of global imports of the U.S.
c. No additional duty on $ 720 bn worth of global imports of the U.S.
d. Exemption continues $ 350 bn worth of global imports of the U.S.
e. Preferential treatment on 232 tariffs
