India-Rus Trade Deal: Trump’s big statement, “India does not allow anyone to enter..Magar we are going to compromise on” quite low tariffs “

Washington DC [अमेरिका], US President Donald Trump on Tuesday made a big statement about the trade deal between India and the US. He said that there is going to be a trade agreement in both countries soon, which will have “much less tariff” (fee), which will give both countries a chance to compete globally.

Trump said, different kind of agreement with India

Trump claimed, “I think we are going to be compromised with India … and this will be a different compromise. It will be an agreement in which we will be able to go there and compete. At the moment, India will not allow anyone to enter. I think India will do it now and if this happens then our low tariff agreement will be done.” Let us know that talks are going on between India and America regarding bilateral trade agreement – BTA, whose deadline is ending on July 9. Now this deal is considered to be very important due to Tariff Escalation Pause.

India also alert about trade deal

India is also very alert about this trade deal, which is being considered very important with America. India has taken a tough stance on agricultural affairs. According to government sources, the delegation led by India’s chief negotiator Rajesh Aggarwal has increased its presence in Washington. Earlier these meetings were scheduled on Thursday and Friday, but now the two countries are extending these dialogues to finalize an interim trade agreement in a hurry. The reason for this is that if there is no agreement till July 9, then the 26% Retailtery tariffs suspended between the two countries will automatically come into force. A senior official said that “the failure of these trade talks will trigger immediate restoration of the 26% tariff structure”.

This strict attitude of India reflects the political sensitivity of its agricultural system. The farming system of the country is mainly based on small farmers who have limited land. In such a situation, any concession in the agriculture sector is economic and politically difficult decision.

What does America want

The US wants India to reduce the fees on agricultural products – such as apples, tree nuts and genetically modified crops and dairy products. However, India has not opened its dairy sector for foreign competition in any free trade agreement (FTA) till date and it still does not seem ready to change this policy under the pressure of America. At the same time, India demands that its labor-dominated export products-such as clothes, apparel, gem-jewelery, leather goods and agricultural products (such as shrimp, oilseeds, grapes and bananas)-should be given priority in the US.

Target to increase trade up to $ 500 billion

India and the US want to take their current trade to US $ 500 billion by US $ 191 billion. Next to these immediate negotiations, both countries are working towards a broad bilateral trade agreement (BTA), which aims to complete the first phase by the autumn of 2024. In such a situation, other countries of the world also have a big eye on this big agreement between the two countries. (ANI)

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