Last month, US President donald trump imposed reciprocal tariffs on about 150 countries, including india and China. In particular, he imposed a 26 percent tariff on indian goods. This affected indian exports to the US. However, trump announced that he would suspend the tariff for 90 days. Meanwhile, the two countries were negotiating a bilateral trade agreement between india and the US. Officials from both countries are actively negotiating with the aim of concluding a bilateral trade agreement by July. Moreover, if mutual trade with the US is confirmed, there is no need to worry about Trump's reciprocal tariffs. In this situation, US President trump has said that mutual trade between india and the US will be completed soon.

In an interview with a news agency, US President donald trump said that they (India) are making it almost impossible to do business. Did you know that they are ready to reduce tariffs on American goods by 100 percent?. The trade deal between india and the US will be completed soon. I am not in a hurry. Everyone wants to do a deal with us. Although many countries, including South Korea, are interested in talking to us, he said that since the number of countries that want to talk is about 150, I do not plan to do a deal with everyone. During the interview, he also hinted that he is planning to expand trade with Pakistan.
Continuous talks are underway between india and the US to confirm the trade deal. In this regard, indian External Affairs minister S jaishankar said that nothing is decided until everything is done. Any trade deal should be mutually beneficial. It should work for both countries. Union Commerce minister Piyush Goyal is in Washington to assess the status of negotiations on the proposed trade deal. He is scheduled to meet US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer.

As part of the agreement with the US, india has argued that taxes on labor-intensive industrial products such as textiles, gemstones and jewelry, leather goods, clothing, plastics, chemicals, shrimp, oilseeds, grapes, and bananas should be reduced as part of the agreement with the US. Meanwhile, the US is insisting on reducing taxes on automobiles, especially electric vehicles, wines, petrochemicals, dairy products, and agricultural products such as apples and tree nuts.
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Sowmiya Sriram

17/05/2025 05:59 PM