U.S. and India closing in on trade deal

“Indian farmers and U.S. manufacturers of medical devices could be among the main winners in a trade package under negotiation, as Washington and New Delhi look to remove long-standing irritants to ties, sources familiar with the talks said,” Reuters reports.

“Having skirmished for months over tit-for-tat tariffs on steel and some agricultural products, the two sides began talks in June that also cover India’s concerns over U.S. steel tariffs and U.S. problems with Indian tariffs on imported IT equipment,” Reuters reports. “‘We are closely negotiating a discrete package of trade issues. It will amount to a pretty substantive agreement,’ said a source with knowledge of the negotiations… The source said the two sides expected to close the deal in the next few weeks.”

“The current discussions, however, are focused on removing outstanding sources of friction, and are not aimed at creating a bilateral free trade agreement, sources from both sides said,” Reuters reports. “The United States has also been urging India to lower the input costs of components for IT that would allow U.S. companies to manufacture in India as part of Modi’s flagship Make-in-India campaign. These affect firms such as Apple Inc and Qualcomm Inc with plans to set up operations in India. ‘In this kind of a package, everything is interlinked even though our mutual concerns are on different issues,’ one of the sources said. ‘But we need to reach an agreement on everything that’s on the table.'”

Read more in the full article here.

MacDailyNews Take: Hopefully, the roadblocks that are currently in place preventing Apple from fully competing in India will be removed!

Apple plans several Apple Premium Reseller flagships in key to drive sales in India – August 21, 2018
Why Apple’s iPhone can’t compete in India – July 25, 2018
Apple sales execs depart as company flounders in India – July 16, 2018
Made-in-India iPhone 6s production underway as Apple looks to avoid Indian import tax – June 26, 2018
Apple ups iPhone prices in India as government hikes taxes on imported phones – December 18, 2017
India raises import tax on electronic products, including cellphones; move to hurt Apple – December 15, 2017
Apple slashes prices of iPhone 7, iPhone 7 plus, iPhone 6s in India – September 14, 2017
Apple seeks tax breaks for suppliers to make iPhones in India – August 1, 2017
Indian Prime Minister Modi meets with Apple CEO Cook ahead of President Trump today – June 26, 2017
Apple broadens their iPhone attack in India, the world’s second biggest mobile market – June 22, 2017
Apple is making old iPhones new again to win India – June 12, 201
Apple again asks Indian government to allow sale of certified refurbished iPhones in India – February 6, 2017
Indian IT minister says Apple plans to make iPhones in Bengaluru – February 3, 2017
Apple nears deal to manufacture products in India – January 25, 2017
Apple is ready to make iPhones in India, for a price – January 20, 2017
India to consider Apple request for tax breaks and policy exemptions with ‘open mind’ – January 18, 2017
Apple is horse-trading mightily with India – January 4, 2017


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