India frets over US proposal seeking advance tariff notices at IPEF

Fears reduction in policy elbow room; wants industry's views

India fears that a proposal by the United States under the “supply chains” pillar of the Indo-Pacific Economic Framework (IPEF) could violate multilateral rules and reduce policy elbowroom. The government has sought industry’s views on the US proposal, which seeks advance notices on tariff changes and export restrictions from the 14 partner countries of the IPEF, before firming up its position.

The IPEF has four pillars: trade, supply chains, clean economy, and fair economy. India has yet to take a call on whether to join the trade pillar, though it has joined the other three. The third round of negotiations started