India delays Washington trade visit as U.S. policy shifts: source
CNBC • • nation
Key Points:
- India's planned trade negotiations visit to Washington, D.C. has been postponed following new developments in U.S. tariff policies, with the meeting to be rescheduled at a mutually convenient time.
- The postponement follows the U.S. Supreme Court ruling against President Trump's tariffs, after which Trump imposed a new 15% global import tariff under Section 122 of the Trade Act of 1974.
- India currently faces a 25% reciprocal tariff from the U.S., which was to be reduced to 18% under an interim trade deal agreed earlier this month, but the recent tariff changes have complicated these arrangements.
- Both India and the U.S. are reassessing the situation and its implications, with virtual discussions ongoing and in
