The India-US Bilateral Trade Agreement talks are now on rough terrain, with the scheduled sixth round unlikely to take place. The 25 per cent reciprocal tariff has already come into force, meaning India’s exports to the US now face an additional 25 per cent duty over and above the existing MFN rates, with a few key exclusions. In addition, the US has imposed a further 25 per cent tariff on imports from India of oil and arms sourced from Russia.
