What is news?
US President Donald Trump expressed confidence in the business agreement being with India and said that the agreement would include very few tariffs, which would help the two countries to become more competitive. Speaking at the bilateral trade agreement (BTA), Trump said, “I think we are going to make an agreement with India. This will be a different compromise. It will be an agreement in which we will be able to join and compete.”
Statement
Trump will compromise with very little tariff
Trump further said that India does not accept anyone right now, but it seems that India is going to do so and if they do so, both are going to compromise very little tariffs. Let me tell you, the talk of the trade deal between Indo-US has reached the final stage, which can be announced by 8 July as the tariff relief deadline given by the US on 9 July is ending.
Business
Consent on these issues
The United States wants the proposed trade agreement to receive fees on some industrial items, electric vehicles, wine, petrochemical products, dairy and agricultural products such as apples, trees fall, genetically modified crops. At the same time, India wants discounts for labor-dominated areas like textile, gemstones, jewelery, leather goods, apparel, plastic, chemicals, shrimp, oilseeds, grapes, bananas. India does not want to give a fee concession to the US in the agricultural-country sector as the dairy has not been opened in any free trade agreement.
talk
If the matter is not made, 26 percent tariff will be applicable
Trump imposed an additional mutual tariff of 26 percent on Indian goods on 2 April, later stopped it for 90 days. However, 10 percent baseline tariff is applicable. India wants exemption from 26 percent additional tariffs. The two countries want to complete the first phase of BTA conversations by September-October, aimed at $ 19,100 million to $ 50,000 million by 2030. If the agreement is not reached, 26 percent tariff will be applicable.
Follow Us On Google News
Follow Us On WhatsApp
Leave a Comment