India conditions US trade pact on tariff parity with regional rivals, Goyal says
What happened
India will finalize a bilateral trade agreement with the United States only after securing preferential tariff rates or parity with regional manufacturing competitors, according to Goyal. New Delhi considers equal or better tariff treatment a mandatory condition for completing the deal.
Why it matters
Without tariff parity, Indian exporters face higher cost barriers in the U.S. market compared to competing Asian economies. Securing preferential duty rates aims to safeguard domestic manufacturers and preserve export margins.
Bigger picture
The demand underscores how relative duty structures—rather than overall tariff cuts—are shaping bilateral trade negotiations as nations seek to defend competitive standing in major export markets.
Watch next
Monitor official responses from U.S. trade negotiators on whether Washington is open to granting preferential tariff terms in upcoming talks.