New Delhi [
India
On May 10 (ANI), the recently finalized restricted trade agreements between the United States and the United Kingdom provide insights into the type of trade arrangements that Washington might seek to establish moving forward.
India
, the Global Trade Research Initiative (GTRI)
GTRI
) said, cautioning the
India
n negotiators.
On Thursday, two nations declared a restricted bilateral trade deal aimed at mitigating the effects of
US
duties imposed on numerous items originating from the UK.
Under the agreement, the
US
will decrease duties on multiple significant British exports. Duties on automobiles have been lowered from 27.5 percent to 10 percent for up to 100,000 vehicles each year, aligning with the present export volume from the UK to
US
.
Furthermore, the 25 percent tariffs levied on UK steel and aluminum under Section 232 have now been completely removed. The aerospace sector has gained momentum as well, with reductions in duties applied to British-manufactured parts such as Rolls-Royce jet engines.
On the contrary, the UK will expand access to its market.
US
It has eliminated a 20 percent tariff on U.S. beef under an existing quota and introduced a new duty-free allowance for 13,000 metric tons. Additionally, tariffs have been lifted on 1.4 billion liters of
US
Ethanol duties have also been eliminated. Additionally, tariffs on approximately 2,500 American goods — such as olive oil, wine, sporting equipment, and specific foodstuffs — have been lowered from an average of 5.1 percent to 1.8 percent.
The
GTRI
highlighted in its assessment that the
US
-The UK agreement mirrors the Trump administration’s inclination towards limited, deal-oriented partnerships centered on duties and substantial acquisitions, instead of all-encompassing Free Trade Agreements that necessitate legislative oversight.
GTRI
emphasised that this imbalance must serve as a warning to
India
.
“If the UK-
US
deal sets the template,
India
can expect growing
US
urge for completing their own ‘mini-deal’ — centered on reducing tariffs and significant strategic pledges instead of pursuing an extensive Free Trade Agreement which might be agreed upon at a later stage. The probable requests from the U.S. are well-known.
India
The think tank stated that they might request lowering duties on various sensitive farm goods such as soybeans, ethanol, apples, almonds, walnuts, raisins, avocados, alcoholic beverages, numerous genetically modified crops, along with meats and poultry.
The
GTRI
highlighted that beyond agriculture,
India
might also encounter pressure to relax
FDI
limitations on multi-brand retail should be relaxed to permit greater market entry opportunities.
US
digital and e-commerce firms, and relax rules on data localisation, insurance, and remanufactured goods.
The
US
might also encourage significant business acquisitions
India
including crude oil, liquefied natural gas, defense platforms, and aircraft from U.S.-based companies like Boeing.
”
India
must avoid falling into a similar trap. Any trading agreement with the
US
must be reciprocal and equitable — not one-sided or politically driven. Agriculture, in particular, should be a red line,” the
GTRI
added in a note.
”
India
we must advocate for an equitable, impartial, and autonomous negotiation strategy—one that bolsters our economy without disadvantaging our agricultural sector, hindering our digital progress, or infringing upon our regulatory autonomy,”
GTRI
note added. (ANI)
Provided by SyndiGate Media Inc.
Syndigate.info
).
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