Big news has come out about the trade agreement between India and America. On the one hand, there is panic worldwide what Trump will do after his July 9 deadline regarding tariffs? On the other hand, all the conditions of the trade agreement between the US and India have been agreed. It is being told that the formal announcement of this agreement may be made on July 8, a day before the deadline of Trump. For this agreement, a team led by Rajesh Aggarwal, the chief negotiator of India and Special Secretary in the Department of Commerce, is in Washington.
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The deadline for the suspension of Tariff by US President Donald Trump ends on July 9. The concern of countries around the world has increased. On Friday, Trump said that after July 9, there will be no relief from the global tariff. After this, he is not planning to increase the 90 -day ban on tariffs on most countries.
Trump had said that the US would send letters to countries before the end of the deadline, which would have written that we are allowing you to shop in America, you will have to pay 25, 35, 50 or 10 percent tariffs. He said, ‘We will see which country treats us good or bad. We do not mind some countries, they just have to pay more tax.
Also read: Indo-US, Tariff’s still hanging sword in an attempt to finalize the trade deal before 9 July
Trump imposed 26 percent tariff
On April 2, the US announced a 26 per cent additional tax (tariff) on goods coming from India, but the Trump administration postponed it for 90 days. However, the original tax of 10 per cent is still applicable. India wants it to get a complete discount from this 26 percent additional tax.
What do India and America want from each other
India wants to withdraw the proposed 26 per cent fees and get exemption in the already charged US charges on steel and auto parts. But the US first wants India to reduce import duty on soybean, maize, car and liquor from India and to ease non-fee obstacles.
Understand bilateral trade agreement
The purpose of allegedly interaction for the agreement is to increase the annual bilateral trade between the two countries from the current $ 190 billion to $ 500 billion by 2030. At the end of the talks on 10 June, Union Commerce and Industry Minister Piyush Goyal had said that India and America are in the process of interacting on a fair and justified trade agreement, which would benefit both economies.
Also read: Trump said- Relief from tariffs will not be available after July 9, country who does not deal with America will have to pay tax
He said, ‘Prime Minister Narendra Modi and US President Trump met in February 2025, both of our leaders have decided to enter a bilateral trade agreement, which will be mutually beneficial for both economies, both sides and people of both countries. We are negotiating to make a good, fair, justified and balanced agreement to promote business. ‘
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