India and Mexico launch negotiations for a preferential trade deal

• India and Mexico have begun negotiating a preferential trade agreement, signing the terms of reference on Wednesday.
Trade between them fell 9% last year to $7.83 billion. Mexico’s new tariffs reach 50% on some Indian goods.
Indian exports in scope include cars, textiles, footwear, plastics, steel, chemicals and toys.
A preferential agreement cuts tariffs on an agreed list of products, rather than across the board.

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