The US and India have not yet reached any final result on trade agreement. The next round of dialogue regarding the trade agreement between the two countries will be on August 25, in which the interim agreement will be discussed. Meanwhile, US President Donald Trump has indicated that he may impose high tariffs between 20-25% on India. However, he also said that India America is a good friend. He also said that no agreement between the two countries has reached its final result. Significantly, there has been a five round of talks between the two countries regarding the trade agreement. At the same time, if there is no solution by August 1, then Indian exporters may apply an additional 16 percent tariff.
What did Trump say
Trump made this statement while talking to reporters in Air Force One, while returning to America from a five -day Scotland visit. When asked whether India is going to pay high tariffs between 20-25%. On this, US President Donald Trump said that yes, I think so. India is my friend. He ended the war with Pakistan at my request.
Speaking further, he also said that the trade agreement with India has not been finalized yet. India has been a good friend, but India has basically imposed more tariffs on us than any other country. Trump’s statement came two days before the end of August 1 of the interpersonal tariff ended.
US team will come to India for sixth round of trade agreement on 25 August
At the same time, an American team will come to India for the sixth round of trade agreement on 25 August. An official gave this information on Tuesday. He said, the team is coming later next month, but the two sides are engaged in resolving differences to reach an interim trade agreement before August 1. August 1 is the date when the suspension period of tariffs imposed on several countries by US President Donald Trump will end. India is also included in these countries.
Reduced chances of agreed to interim agreement
At the same time, the possibility of agreed for interim agreement in both countries seems to be less. On Monday, American trade representative Jaimison Greir had talked about further talks on the trade agreement. Still, the officials are not giving up hope that any major success can be achieved at the last moment. Greir said on Monday that we are constantly talking to our Indian colleagues and have always been creative discussions with him. If the last date of August 1 is not extended or there is no interim agreement between the two countries, then Indian exporters may have to face an additional 16 per cent tariffs above the current 10 per cent.
Dialogue has been done in both countries
India and the US teams have completed the fifth round of this agreement in Washington last week. The talks were held by Rajesh Aggarwal, the chief negotiator of India and special secretary of the Department of Commerce and Brandan Lynch, a assistant trade representative for South and Central Asia. This dialogue is important, as the two sides are trying to finalize an interim trade agreement before August 1. On April 2 this year, US President Donald Trump announced the imposition of high counter -tariffs. These tariffs were immediately suspended for 90 days. This was the date of July 9 and later the date was extended till August 1, as the US is making trade agreements with many countries.
The screw is stuck on these issues
America is demanding tariff exemption in India’s agriculture and dairy sector. But India has not yet opened these areas for any country. Some farmer organizations have urged the government not to include agricultural issues in the trade agreement. India is demanding the removal of this additional 26 per cent tariffs. He also wants a discount on tariffs on steel and aluminum (50 per cent) and auto sector (25 per cent). These issues are an important part of the trade agreement dialogue.
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