The government was given to the Parliamentary Committee in efforts to deal with the bad effects of American tariffs
Government On Monday, a parliamentary committee told that some ‘red line’ could not be crossed in business talks with the US and focused efforts are being made to reduce the adverse effects of heavy tariffs imposed by the US. Sources gave this information to PTI. According to sources, Foreign Secretary Vikram Egypt and Commerce Secretary Sunil Barthwal informed the Standing Committee on Foreign Affairs headed by Congress MP Shashi Tharoor on the topic ‘Indo-US trade talks and tariffs’.
No compromise with agriculture and dairy sector
According to sources, the Parliamentary Committee was told that India’s trade relations with the US are going through a difficult period and the government is taking measures to deal with it. Sources said that ‘Red Line’ related to trade talks refers to India’s stagnant attitude on American demand to open agriculture and dairy sector. Along with this, Trump has said that there will be no business talks until the tariff dispute between India and America is settled.
India and America have been in several rounds
India and the US have held several rounds of talks about bilateral trade agreement. At the same time, the government said that preparations are underway to emphasize export diversification strategy to reduce the impact of American tariffs and take advantage of trade agreements with other countries. However, the government told the Parliamentary Committee that Indo-US relations should not be judged only by business stress and should be seen as a ‘permanent and strategic’ partnership.
America imposed a total of 50 percent tariff on India
Let us tell you that US President Donald Trump had earlier imposed a 25 percent tariff on India’s products and asked to impose a separate penalty to trade with Russia. Trump later announced the imposition of 25 percent extra tariff in India as a fine. After which the total American tariff on Indian products has increased to 50 percent.
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