U.S. Commerce Secretary Calls for ‘Special’ Trade Treatment with India
U.S. Commerce Secretary Howard Lutnick calls for India to adopt a ‘special’ treatment in trade, pushing for a comprehensive bilateral trade agreement with America. Highlighting the strong relationship between Prime Minister Modi and President Trump, he suggests innovative strategies to open India’s agricultural sector. Lutnick argues that focusing on bilateral trade could unlock extraordinary opportunities for both nations, moving away from outdated models.
The U.S. Commerce Secretary Howard Lutnick has urged India to consider a ‘special’ treatment in its approach to trade, advocating for a comprehensive bilateral trade agreement. He noted that Prime Minister Narendra Modi’s favorable relationship with President Donald Trump could facilitate such a deal. Lutnick emphasized the importance of adopting innovative strategies to open India’s agriculture sector, suggesting that conventional multilateral models may no longer be appropriate.
Lutnick stated, “The United States is interested in doing a macro, large-scale, broad-based trade agreement with India that takes everything into account.” He believes that this ambitious agreement can be realized through visionary thinking and collaboration between the two nations. His remarks coincide with recent discussions between Modi and Trump regarding a potential bilateral trade agreement by 2025, aiming for $500 billion in trade by 2030.
Addressing the India Today Conclave from Washington D.C., Lutnick expressed the necessity for India to reassess its trade model. He remarked that fostering a bilateral relationship with the U.S. is essential, advocating for reduced tariffs on American products while suggesting that India could maintain protective measures for other countries. Lutnick highlighted the unique opportunity that exists for India in engaging with the world’s most powerful and largest consuming economy.
Emphasizing the significance of a comprehensive bilateral deal, Lutnick stated, “Look at the opportunity of trading with America in a special way, a unique way to trade with the most powerful economy in the world.” He reiterated that Modi’s relationship with Trump paves the way for meaningful collaboration, urging both nations to seize the moment for a historic trade partnership.
In summary, U.S. Commerce Secretary Howard Lutnick advocates for a redefined trade relationship between the United States and India, emphasizing the need for a comprehensive bilateral trade agreement. With supportive ties between Prime Minister Modi and President Trump, Lutnick believes significant opportunities exist for both nations to engage uniquely. The approach suggests an evolution from traditional multilateral practices toward a more tailored bilateral engagement.
Original Source: www.hindustantimes.com
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