President Trump is leaving India without the trade deal in place he was hoping for.
The U.S. president was looking to expand access to the massive market for U.S. dairy goods and other products like motorcycles and medical devices.
India currently has tariffs on American farm goods at an average rate of 32.8 percent.
As if that’s not high enough, India has 100 percent tariffs on raisins and coffee, as well as 150 percent on alcoholic beverages.
For the second time since last September, when India’s prime minister visited the U.S., the two sides failed to reach even a limited “mini-trade deal,” which would increase trade on focused groups of goods, which would include dairy products.
The New York Times says negotiators have worked since 2018 on a deal that would lower India’s barriers to some American products, as well as restore India’s access to a program that allows goods to enter the U.S. tariff-free.
The U.S. India Business Council released a statement that says,” Both sides are tuned into their own political imperatives and not where the other side might have an area of accommodation. That makes it harder to find where the common ground is and where a deal could be struck.”