US needs more negotiations with India for trade deal ahead of August 1 tariff deadline
Washington’s interview with CNBC on Monday, Washington said how much ambitious Indian government is willing to make a trade agreement to make a trade agreement. He emphasized that he had previously argued that an agreement with the new Delhi may be close, but that the policy of protecting India’s market in a strong way would represent a great reversal of the reducing obstacles.
“We continue to talk to our Indian colleagues, we have always made very constructive discussions with them,” he said.
“They stated that they were strongly interested in opening the parts of their markets, of course we are ready to continue to talk to them. But I think we need more negotiations to see how ambitious our Indian friends want to be.”
Trade Minister Piyuh Goyal said he was optimistic that an agreement could be reached to prevent 26%threatened tariffs. Goyal insisted that there was no adhesion score in the US-India relationship, and said that the rules of immigration, including H-1B visas for talented workers, did not make negotiations.
“What should be understood with India is that trade policies have been led to strongly protecting their domestic markets. They are doing full jobs, G said Greer. “And the president is in the mode of demanding agreements that largely open other markets and open everything or everything near everything.” The US team will visit India in August for the next negotiations for the bilateral trade agreement proposed between the two countries.
On April 2 this year, US President Donald Trump announced high mutual tariffs. The implementation of high tariffs was suspended immediately for 90 days until July 9 and August 1, as the US negotiated trade agreements with various countries.
India hardened the US demand for the privilege of task on agricultural and dairy products. New Delhi, so far, has not compromised any of the trade partners in a free trade agreement in the milk sector.
Some farmers urged the government not to include any problems related to agriculture in the trade agreement.
India wants to remove this additional tariff (26 percent). In addition, steel and aluminum (50 percent) and the car sector (25 percent) wanted to be alleviated.
These issues are an important part of the trade agreement.
Against these, India reserves its rights under the norms of the WTO (World Trade Organization) in the application of retaliation tasks.
The country is also looking for task privileges in the proposed trade agreement for labor -intensive sectors such as textiles, jewels and jewels, leather products, clothes, plastics, chemicals, shrimp, oil seeds, grapes and bananas.
On the other hand, the United States, specific industrial goods, cars, especially electric vehicles, wines, petrochemical products, agricultural products, dairy products, apple, tree peanuts and genetically modified products requires task privileges.
The two countries want to have negotiations in autumn (September-October) with the first tranche of the proposed bilateral trade agreement (BTA). Before that, they are looking for a temporary trade agreement.
India’s exports to the United States increased by 22.8 percent in the April-June quarter of this financial year to 25.51 billion US dollars, while imports increased by 11.68 percent to USD 12.86 billion.
