The USA and India are on the verge of a historic trade agreement

The United States and India are preparing to conclude a key trade agreement that could change the balance of their economic relations. U.S. Vice President Jay D. Vance visited Delhi to discuss the details of the deal. India intends to double its imports of American energy resources, benefit from new tariff conditions and attract companies leaving China. 

Earlier, Donald Trump imposed 26% tariffs on India, including it in a «blacklist» of 185 countries, but these measures did not take effect. In April, the president announced a postponement of the increase in duties for countries that expressed willingness to negotiate, including India, for 90 days. Tariffs of 10% are currently in effect.

Last year, the trade turnover between the two countries reached $129 billion, and the gap in favor of India was $45.7 billion. Donald Trump has repeatedly criticized India, calling it a «tariff abuser», but Delhi refrained from imposing retaliatory measures. Instead, the country chose to accelerate negotiations on a new agreement, which allowed it to join the top five key partners of the United States, including the United Kingdom, Australia, South Korea and Japan.