Tough Trade Talks: India's Stand on U.S. Tariff Hikes
India and the U.S. are still negotiating trade terms, with India defending its interests amidst high tariffs imposed due to its Russian oil purchases. Foreign Minister Subrahmanyam Jaishankar emphasizes safeguarding national economic interests, including those of farmers and small producers.
- Country:
- India
India's ongoing trade negotiations with the United States are challenged by significant tariffs imposed on Indian goods, reportedly due to increased Russian oil purchases. The foreign minister emphasized the need to protect national interests during these discussions.
Currently, Indian products face some of the highest U.S. tariffs, reaching up to 50%, reflecting Washington's tough stance. A 25% tariff is already in effect, with the remainder expected to be implemented by late August.
Foreign Minister Subrahmanyam Jaishankar highlighted the importance of defending certain 'redlines' during the talks. These include prioritizing the economic well-being of local farmers and small producers, which he addressed at a recent event in New Delhi.
(With inputs from agencies.)
Google News