On May 9, Reuters published a news report. Accordingly, the average tax on goods imported from the united states to india has now changed from 13 percent to less than 4 percent. That is, india has come forward to reduce the tax by almost 9 percent. This is also seen as one of the steps taken by india to stay in touch with its major trading partners. According to this agreement, india has agreed to buy more than 60 percent of American goods duty-free in the first phase. In addition, Reuters has reported that the Modi government will give priority to almost 90 percent of goods coming from the United States. In return, india is now expecting to be exempted from the tax hikes that the US government is going to impose. But the US did not announce such tax exemptions in the agreement with the UK. On april 10, the US announced that it would suspend additional taxes on goods exported from india for 90 days. This maximum tax exemption has been granted until July 9. This temporary suspension was mainly seen as a measure to steer the trade negotiations in a good direction and to make a good decision.But on april 2, the US introduced a reciprocal tax system and started imposing taxes on goods imported from almost 60 countries. As part of that measure, an additional 26 percent tax was imposed on goods exported from India. This tax affected all sectors, including seafood and metals like steel. With this agreement that has been signed, india and the US are expected to become good trading partners. There is an environment in which trade relations between india and the US are improving.
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