India's Firm Stand on US Trade Talks: Agri and Tariff Showdown
India strengthens its position in trade talks with the US, refusing duty concessions on agricultural, dairy, and GM foods in the proposed Bilateral Trade Agreement (BTA). The US aims for reduced tariffs on multiple goods, while India seeks removal of additional tariffs on its exports to America.
- Country:
- India
In recent trade discussions, India has cemented its strong stance against offering duty concessions on agricultural, dairy, and GM foods under the proposed Bilateral Trade Agreement (BTA) with the United States. This move comes amidst intensified negotiations between the two nations aimed at reaching a consensus to bolster bilateral trade.
In response to stalled trade discussions, US President Donald Trump declared an additional 25% import duty on Indian goods, effective from August 7. While India clamors for the removal of these tariffs, especially on key sectors like textiles and automotive, the US seeks greater market access for its industrial and agricultural products.
The core of India's opposition to reducing tariffs on agri-products and dairy stems from protecting small farmers and ensuring food security, as these sectors form the backbone of its rural economy. With the stakes high on both sides, the outcome of the negotiations remains uncertain as more trade discussions loom.
(With inputs from agencies.)
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