India Responds to US Tariffs Amid Ongoing Trade Negotiations
India acknowledges a statement from the US President about upcoming tariffs and stresses the country's commitment to a fair trade deal. The Commerce Ministry emphasizes protecting domestic interests while continuing trade talks. The announcement comes as both nations negotiate amidst challenges over agricultural and digital trade policies.
- Country:
- India
India has acknowledged a statement made by the United States President concerning bilateral trade relations, particularly a new 25% tariff set to commence on August 1. The Commerce and Industry Ministry stated that negotiations have been ongoing for a mutually beneficial trade agreement.
The Ministry affirmed India's dedication to safeguarding the welfare of its farmers, entrepreneurs, and MSMEs while pursuing a balanced trade agreement. The statement reiterated the government's commitment to protecting national interests, as demonstrated in past agreements such as the Comprehensive Economic and Trade Agreement with the UK.
This announcement from US President Trump on his Truth Social account highlighted longstanding issues, including high tariffs and stringent trade barriers from India. As talks continue, significant differences remain over the US demands to open India's agriculture and dairy sectors, which are crucial to the Indian economy.
(With inputs from agencies.)
ALSO READ
There was no talks between Prime Minister Modi and US President Donald Trump between April 22 and June 16: EAM S Jaishankar in Rajya Sabha.
Maharashtra Agriculture Minister Caught in Online Gaming Controversy
US President Donald Trump announces 25 per cent tariff on India from Aug 1.
US Tariff Shock: Donald Trump's 25% Tax Provokes Indian Political Storm
Government studying implications of the tariff announcement made by US President Donald Trump: statement.
Google News