Interim trade deal: US may offer to lock-in India’s tariffs to insulate from Section 301 penalties

US proposes 12.5% tariff penalty on Indian goods under Section 301 findings

USTR proposes 12.5% tariffs on Indian goods for forced labour violations, exceeding competitors' 10% penalties. India faces July 24 deadline to finalize trade deal and lock-in rates before higher Section 301 duties, reshaping IT outsourcing and supply chain planning.