According to recent reports from COINOTAG, India is actively seeking to enhance its trade relationship with the United States. In a strategic move, India aims to reduce its **tariff disparity** with the U.S. from approximately **13%** to below **4%**. This proposal is part of negotiations to secure exemptions from the current and potential **tariff hikes** suggested by the Trump administration. If successful, this initiative would signify a **9 percentage point** reduction, marking a pivotal shift by the world’s fifth-largest economy in its trade policies.
The **U.S.**, recognized as India’s largest trading partner, has seen bilateral trade projected to increase to **$129 billion** by 2024. Currently, the trade balance is favorable for India, boasting a surplus of **$45.7 billion**. As both nations navigate these evolving trade dynamics, such agreements could play a crucial role in sustaining economic growth and fostering stronger bilateral relations.