Years
Giving information to the Parliamentary Committee of Foreign Affairs, the Commerce Secretary clarified that the talks between India and the US are still going on and no trade agreement has been finalized. After several members of the Parliament panel expressed concern over the claim of Donald Trump that India has agreed to reduce the duty.
Commerce Secretary Sunil Barthwal told the parliamentary panel that India had not committed any commitment to cut trade fee with the US. Barthwal’s statement came in response to US President Donald Trump’s recent statement in which he said that India has agreed to reduce its charges significantly. Giving information to the Parliamentary Committee of Foreign Affairs, the Commerce Secretary clarified that the talks between India and the US are still going on and no trade agreement has been finalized. After several members of the Parliament panel expressed concern over the claim of Donald Trump that India has agreed to reduce the duty.
Barthwal said that the claims and media reports of the US President cannot be trusted as negotiations on bilateral trade agreement between the two countries are still going on. India has not committed any commitment on trade fee with the US. In addition, the bureaucrat also said that India’s interests would be taken care of during the trade talks. India is in favor of free trade and wants liberalization of trade, which will help in increasing trade between the two countries. He insisted that India supports trade expansion, but the tariff war is not in anyone’s interest and it can also “recession.
India will not reduce tariffs indiscriminately, especially in areas that are important for its domestic economy. India prefers to interact bilaterally rather than multilateral to maintain national interests. Comparing with Canada and Mexico, who actively challenged the American tariff policies, Barthwal said that their circumstances were different due to security and border immigration concerns with the US.
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