India Denies Commitment to US Tariff Reductions Amid Trump Claims
India has denied making commitments to reduce tariffs on US products, countering claims made by President Trump. While discussions for a beneficial trade agreement are underway, the Indian government is focusing on long-term trade relations rather than immediate tariff cuts. President Trump’s visit to India is anticipated later this year for a summit involving Quad nations.
India has clarified that it has not made any commitments to reduce import duties on American products, despite recent claims by President Donald Trump. Two weeks into his second term, President Trump has disrupted global trade by targeting various nations and accusing them of engaging in “unfair” practices. Alongside this, he announced reciprocal tariffs on countries, including India, effective next month.
Last week, President Trump expressed frustration over India’s tariffs, stating, “You can’t sell anything into India, it is almost restrictive.” He added that India had allegedly agreed to lower their tariffs significantly, attributing this change to increased scrutiny by his administration. However, a report from the Times of India indicated that India’s government confirmed to a parliamentary panel that no specific commitments had been made to the United States regarding tariff reductions.
India’s commerce secretary, Sunil Barthwal, mentioned that the country and the US are engaged in discussions aimed at crafting a mutually advantageous bilateral trade agreement, which prioritizes long-term cooperation over short-term tariff negotiations. Prime Minister Narendra Modi, who recently met with President Trump, expressed optimism about a forthcoming trade deal beneficial for both nations.
The US market is vital for India’s IT and services sectors, while India has received billions in military hardware from Washington in recent years. Additionally, President Trump is expected to visit India later this year for a summit involving the Quad nations: Australia, India, Japan, and the United States.
In summary, India has distanced itself from claims made by President Trump regarding tariff reductions, asserting that no commitments have been made. The focus remains on establishing a comprehensive trade agreement with the United States, emphasizing long-term cooperation. The relationship between the two nations continues to evolve, with significant economic ties and ongoing discussions about cooperation in various sectors.
Original Source: www.ndtv.com
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