Trump’s tariff may seem severe, but India not worse-off than nations that signed trade deal: GTRI
Global Trade Research Initiative (GTRI), England, EU, Japan, Indonesia and Vietnam are now encountered high tariffs and in return for US farm goods, large investment pledge and comprehensive concessions on American oil, gas and weapons recruitment, he said.
India did not make such concessions, he added.
“Although Trump’s announcement of a 25 percent tariff to Indian goods seems harsh, India is not significant worse than the countries that signed an agreement with the United States,” GTRI, Founder of GTRI, said. He said.
He added that India did not move away from the agreement and negotiated in good faith, but refused to cross the red lines in agriculture, especially in the danger of more than 700 million livelihoods.
Trump’s justification for India’s tariffs, trade barriers and ties with Russia, India’s tariffs, compatible with the DTO, non -tariff barriers are globally widespread, and discounted Russian oil helps to manage inflation during global volatility. “India is not alone; more than 90 countries face similar US pressure. An agreement may still emerge, but only with fair terms. For now, India’s principled stand has avoided the trap of a unilateral agreement-and this is a success.”
