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US President Donald Trump on Tuesday indicated to impose 20 to 25 percent tariffs on India. Trump reacted to a report during a media interaction with the media at Air Force One. It was said that India is preparing to impose 20 to 25 percent tariffs.
Trump said that India has been a good friend, but he has been imposing more tariffs on America than other countries. Now I am in charge, so all this will end. During this period, Trump claimed to have a ceasefire between India and Pakistan again.
Trump’s response to the reaction tariff came before August 1. However, Trump has not sent any letter to India about the tariff. As he has done for many other countries.
On April 2, Trump imposed tariffs on more than 100 countries. Then he imposed 26% tariff on India. However, he later postponed it for 90 days.
Trump had earlier said- India will not tax our goods Donald Trump said on 17 July that soon American products are going to reach India markets. Like Indonesia Formula, American products will also have zero tariffs in India.
Trump had said- We have entered into agreements with many countries. We are going to have another agreement, perhaps with India. We are talking. When I send a letter, that agreement will be reached.
Trump imposed 19% tariff on Indonesia on 15 July. From August 1, goods from Indonesia to America will be charged 19% tariffs. At the same time, there will be no tariff on American goods in Indonesia.
US team will come to India on August 25 for trade deal American officials will come to India on 25 August to discuss the sixth round regarding the Bilateral Trade Agreement (BTA).
The two countries are working towards completing the first phase of trade agreement by September-October. Along with this, the possibility of an interim trade agreement is also being searched.
The previous round of talks about the trade deal took place in Washington. There was discussed by Chief Negotian Rajesh Aggarwal of India and US Trade Representative Brendon Lynch. Read full news …
India wants less than 10% tariff: report According to Bloomberg, India wants the tariff rate to be less than 10%. In return, the US wants some concessions in India for its products.
However, India has made it clear that it will not open its agriculture and dairy sector for foreign companies. India is willing to compromise in non-agricultural sectors.
India has also offered to completely eliminate the tax on American industrial goods when the US reduced taxes. Apart from this, there is a possibility of buying more aircraft from Boeing.
It is necessary to have an agreement by 1 August One important thing about this whole issue is that if India does not reach an agreement with the US by August 1, the US government can impose 16 percent additional tax on Indian goods.
This tax will be in addition to 10 percent baseline tariffs already implemented. In such a situation, selling goods in the American market can be expensive for Indian companies.
However, India has made it clear that it will not accept any agreement due to the deadline. India’s Commerce Minister Piyush Goyal has said that India will sign the agreement only when it is fully ready, in India’s interest and is tested properly.
