India and US close to BTA

New Delhi: India is nearing the finish line to clinch a breakthrough bilateral trade agreement (BTA) with the US, Na-tional Economic Council Director Kevin Hassett said. Hassett’s comments came as the Donald Trump administration signals readiness to slash tariffs to 10 per cent or lower for nations offering robust trade proposals.

Hassett, the White House economic advisor, told CNBC that a trade and tariff deal between the US and India is “close to the finish line.” India and the US are working to sign the first tranche of BTA to bring down tariffs before the agreed timeline of the fall of 2025, as the terms of reference for the pact have already been finalised.

PM Narendra Modi and US President Donald Trump have set an ambitious target of $500 billion bilateral trade by 2030 in a joint statement during the Indian PM’s recent visit to Washing-ton, DC.