New Delhi4 minutes ago
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The Government of India rejected US President Donald Trump’s claim in which he claimed on Friday that India wanted to cut its tariffs a lot, as we are opening their actions.
India’s Commerce Secretary Sunil Barthwal told the parliamentary panel on Monday that India had not made any commitment to cut tariffs with the US.
Giving information to the Parliamentary Committee of Foreign Affairs, Sunil Barthwal made it clear that the talks between India and the US are still going on and no trade agreement has been finalized yet.
Barthwal said that the claims and media reports of the US President cannot be trusted. India’s interests will be taken care of in any trade talks.
No one can benefit from tariff war, recession can come According to media reports, Barthwal said-
India is in the free trade side and wants to liberalize the trade, which will help in increasing the trade between the two countries. India supports trade expansion, but the tariff war does not benefit anyone and it can also cause recession.
Barthwal told the committee that India will not reduce tariffs indiscriminately, especially in areas which are very important for our domestic economy. India prefers to interact bilaterally rather than multilateral to maintain its national interests.
Trump had said that India charges a lot of tariffs from us Actually, Trump said late Friday that India charges a lot of tariffs from us. You cannot sell anything in India. However, India now wants to cut its tariffs a lot, because we are opening their actions.
He said- Everyone has looted our country. But now it has stopped. I had closed it in my first term. Now we are going to close it completely, because it is very wrong. America has been looted by almost every country in the world from the point of view of economic, financial and business.
From April 2, Trump will impose Tit tariffs like worldwide
Trump gave a record 1 hour 44 minute speech in the joint session of Parliament on 5 March. The speech started with America Is Back, ie ‘America’s round returned’. He had said that many governments could not do what he had done in 43 days.
He had said- ‘Reciperook Tariff’ will be applicable in America from April 2. That is, the more tariff they will apply on us, the more we will apply on them. The more tax they will impose on us, the more tax on them. Trump laughed and said that I wanted to implement it on 1 April, but then people would consider it as ‘April Fool’.
Trump had said that under his administration, if a company would not make its product in America, it will have to give tariffs. In some cases, this tariff will be very large. Other countries impose heavy taxes and tariffs on the US, while the US imposes them very little. This is very unjust. Other countries have been putting tariffs on us for decades, now it is our turn.
