New Delhi, July 11 -- India should exercise caution before signing any trade agreement with the US, Global Trade Research Initiative (GTRI) has warned, citing a series of aggressive US policy moves, including proposed tariffs and penalties, that reflect what the think tank calls "masala deals" or mutually agreed settlements achieved through leveraged arm-twisting.

In a new report, GTRI criticized US proposals such as a 10% tariff on all Brics nations, including India, for settling trade in non-dollar currencies, and a steep 500% penalty on countries buying Russian oil. These measures could severely undermine India's energy security and economic autonomy, the report said.

It said America's attempt to punish countries for non-dollar trade...