MUMBAI -- Ongoing bilateral trade talks between India and the U.S. have become crucial to the South Asian nation after it was slapped with a 26% reciprocal tariff on Wednesday.
While India has escaped the kinds of eye-watering rates set to be applied to regional competitors such as Vietnam and Bangladesh, the tariffs, effective in full from next Wednesday, make a bilateral agreement crucial for New Delhi as it looks to cushion the impact on exports to the U.S. worth about $80 billion, economists said.
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