India proposed to the United States to abolish duties on steel, auto parts and pharmaceutical products
India has taken the initiative to remove tariffs on a limited amount of imports of steel, auto parts and pharmaceutical products from the United States in exchange for similar conditions from Washington. About this informs Bloomberg.
Such a proposal was voiced by Indian officials during a visit to Washington at the end of April. Both sides seek to speed up the process of concluding a bilateral trade agreement, aiming for the conclusion of negotiations already in the fall. Duty-free import of only a certain number of goods is provided. After exceeding the established quotas, normal customs tariffs will apply.
The US, for its part, insists on settling the situation with the so-called Quality Control Orders (QCOs) — mandatory quality standards that all manufacturers, including foreign ones, must comply with. Washington considers these requirements opaque and creating discriminatory barriers to access to the Indian market.
In response, India has expressed its willingness to review the effect of these standards in some sectors — in particular, in the field of medical devices and chemical products. She also suggested signing an agreement on mutual recognition of quality standards. Negotiations are still ongoing, and it is currently unknown whether these proposals will be included in the final text of the agreements.
It will be recalled that on May 3, India imposed a ban on the import of all goods originating from Pakistan or coming through its territory. In addition, the Directorate General of Shipping of India has issued orders that Pakistani-flagged ships are prohibited from entering Indian ports and Indian-flagged ships must not dock in Pakistan. The document states that this step is designed to “ensure the security of Indian assets, cargo and related infrastructure.”
