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It is reported that the bilateral 42CrMo4 steel trade agreement negotiations between the United States and India have made significant progress recently. India has proposed a conditional tariff reduction plan to the United States, which plans to implement a "zero tariff" policy on imported goods from the United States, including steel, 42CrMo4 steel automotive parts, and pharmaceuticals, but with quota restrictions and reciprocity conditions.
It is reported that in order to accelerate the negotiation of the trade agreement, Indian trade officials went to Washington in late April and proposed a "zero tariff" plan to promote bilateral trade and investment, and push the two sides to achieve a bilateral 42CrMo4 steel trade volume of $500 billion by 2030.
According to insiders, both parties hope to reach a formal agreement before this autumn.
