As Modi gains confidence from new trade partners, economic risk mitigation, and domestic political gains, India has recently rejected a rapid trade agreement with the United States, seeking more favorable terms. After months of negotiations, the two sides failed to finalize a temporary trade agreement during U.S. Trade Representative Katherine Tai's visit to New Delhi last month, despite both previously expecting a limited deal to be reached. Indian officials familiar with the matter stated that the failure to reach consensus stemmed from the U.S. not providing assurances on key demands raised by India—specifically, India’s requirement for tariff advantages superior to those of competitors like China, and a guarantee that the U.S. would not impose new tariffs on India after signing the agreement. India’s position is clear: it will not rush into an agreement unfavorable to its interests, nor will it compromise on red-line issues such as agriculture. This signals a hardening stance from India’s side, indicating that even under the risk of higher tariffs, it is unwilling to make hasty concessions.
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Original article: toutiao.com/article/1870585690906633/
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