Former US President Donald Trump recently stated that
India has agreed to lower its tariffs, following his efforts to
highlight what he calls "massive tariffs" on American imports.
Trump on India’s Tariffs
During a public address, Trump emphasized that India imposes
high tariffs on US goods, making it difficult for American businesses to
sell their products in the country.
"India charges us massive tariffs. Massive. You can't even sell
anything in India. But now, they have agreed to reduce these tariffs
significantly because someone is finally exposing them for what they have
done," Trump was quoted as saying by ANI.
This marks the third time in recent days that Trump has
brought up India’s tariff policies, coinciding with Indian Commerce
Minister Piyush Goyal’s visit to Washington for trade negotiations with his
US counterpart, Howard Lutnick.
India-US Trade Talks & Potential Agreement
The Ministry of External Affairs (MEA) has responded
to these discussions, stating that a Bilateral Trade Agreement (BTA)
between the two nations is being negotiated. The agreement is expected to
strengthen trade relations, improve market access, and reduce tariff
barriers.
MEA spokesperson Randhir Jaiswal explained:
"Through the BTA, our goal is to deepen India-US trade in goods and
services, reduce tariff and non-tariff barriers, and enhance supply chain
integration."
US Pushes for Agricultural Market Access
Meanwhile, US Commerce Secretary Howard Lutnick has
called for India to open up its agricultural sector for American
imports. Speaking virtually at the India Today Conclave, Lutnick pointed
out that India's tariffs on US products are among the highest globally,
urging New Delhi to reconsider its stance.
"India’s agricultural market has to open up. The good thing is your
government understands your market, and we understand ours. The key is to find
a balance," Lutnick remarked.
With ongoing discussions between Indian and US officials,
the potential agreement could reshape trade relations between the two economic
giants.
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