India cleared the stance on trade deal from America, New Delhi will not bow under pressure, now ball in Trump’s court

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Photo: File Trade deal

America and India The business world is eyeing the trade deal between the trade deal. Everyone is waiting for this business deal with inferiority. However, the ball is now in the court of US President Donald Trump or America. They have to decide what kind of trade deal has to be done with India. According to sources, India has made it clear that New Delhi will not bow into pressure. According to the information received, India has set its boundaries on major issues in areas like agriculture and dairy for the trade deal with the US. So now Washington is in the hands of finalizing the deal. Sources said that if the issues are resolved, the interim trade agreement can be announced before July 9.

Deadline ending on 9 July

90-day tariff was given by US President Donald Trump for dozens of countries including India. It ends on 9 July. The two countries had announced to start negotiations for bilateral trade agreement (BTA) in February. Determined the deadline to complete the first phase of BTA by this year’s autumn (September-October). Before that, both sides are trying to finalize the interim trade agreement. On April 2, the United States imposed an additional 26 percent retaliation on Indian goods, but postponed it for 90 days. However, 10 percent of the original fee levied by the US is still applicable. India wants a complete discount from this 26 percent fee.

Deal possible only when it will be in national interest

A source said, if the proposed trade talks fail, then 26 percent of the fee will be re -implemented. Commerce Minister Piyush Goyal said last week that India does not compromise on a deadline basis and will accept the proposed trade agreement with the US only when it is in national interest. He said that the FTA is possible only when both sides get benefits and it should be a profitable agreement for both sides. Only last week, the Indian party has returned from Washington after talking on the interim trade agreement with the US. There are also differences between the two countries at steel, aluminum (50 percent) and vehicle (25 percent) fees.

Case stuck on agriculture and dairy products

India has tightened its stand on giving fees concessions to the US on agriculture and dairy products as both are sensitive subjects. India has never opened the dairy sector in any trade agreement signed before. Trump said last week that his administration is sending letters to the first group of 10-12 countries, in which the details of the counter-duty rates will be shared and the entire process could be completed by July 9.

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