Indian officials recently offered a bold new trade proposal during closed-door meetings in Washington—one that Trump allies are already calling a major victory.
India’s latest offer includes removing tariffs altogether on U.S. steel, auto components, and pharmaceutical imports—up to a negotiated volume—on the condition that the United States does the same. The proposal, described by people familiar with the talks who spoke to Bloomberg, would revert to normal tariff levels only once that volume threshold is crossed. Negotiators are eyeing a deal as early as this fall.
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