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India has proposed zero tariffs on US steel and auto parts.
The US has shown a positive initial response to the proposal.
The move could expand market access and reshape competition for both industries.
India has proposed a zero-for-zero tariff arrangement for US steel and auto parts in ongoing bilateral trade negotiations. Under this proposal, both nations would mutually eliminate import duties on these specific product categories, aiming to strengthen trade relations and ease market access for each other’s industries.
According to trade officials, the United States has responded positively to the idea but has yet to formally agree. The steel and auto parts trade between the two countries has long been a point of contention, with tariff barriers restricting smoother commerce. India hopes this move would enhance its steel sector’s access to the American market, while offering US auto component manufacturers a fairer playing field in India.
Industry analysts suggest that while this deal could boost exports for both sides, it may also intensify competition within domestic markets. If finalized, the agreement would mark a significant step towards improved trade ties and reduced tariff disputes between the two economies.
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