With Trump win, India open to freeing up market access for U.S. firms, sources say
NEW DELHI, Nov 7 (Reuters) – India is open to offering easier market access for U.S. firms if Washington reciprocates under President-elect Donald Trump, who has long called out New Delhi for its high tariffs, sources aware of the matter said.
Trump, who made a stunning political comeback four years after being voted out of the White House, recently labelled India a “very big abuser” of trade ties, vowing to raise tariffs on all imports by the United States during his campaign.
During his first term as president from 2017 to 2021, Trump warred with the South Asian nation over tariffs but shared a healthy relationship with Prime Minister Narendra Modi.
Closer to the end of his time in the White House, India and the United States agreed to negotiate a limited accord, in an effort to bridge their differences.
“India is open to lowering tariffs for entry of U.S. companies if that means better trade terms for Indian goods,” said one of the sources aware of the government’s thinking, who spoke on condition of anonymity.
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Source: https://www.reuters.com/world/with-trump-win-india-open-freeing-up-market-access-us-firms-sources-say-2024-11-07/