New Delhi: The government is going to be patient and wants to protect its interests in the proposed trade deal with the US, suggested to work on bilateral treaty among other countries. Trump’s tariff effect,
“We will ensure that the deal is balanced and a win for both sides. We already have an advantage on others because our talks with America started earlier because there were indications that mutual tariffs were being announced,” a senior official said, India said, India said that India wanted to run with an agreement.
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The official indicated that the government has intended to catch its land in many sensitive areas, while the US has slashed tariffs to put a massive pressure on India. The source said, “Like us, they also have sensitivity in areas such as peanut butter.”
US Commerce Secretary Howard Lutnik recently said that the agricultural cannot get away from the table and India can look at quota and borders. There are still early days in trade talks, which only discussed, and the USTR team coming into India will confirm the terms of reference for engagement.
After the announcement of tariffs earlier this week, India has been in touch with many countries, but has limited ability to interact on trade agreements, given that the talks for seven are already underway, including UK, EU, Oman, Australia, New Zealand and Chile. Bahrain and Qatar are said to be eager to discuss an FTA, and with the Gulf Cooperation Council, including Saudi Arabia, have moved forward gradually over the years.
Some of these countries are willing to speed up negotiations, however, sources denied partnership with ASEAN’s choice, a part of the fear emanating from the foothills of China in the region. The evaluation in the government is that India is better placed as exporters may be able to absorb high burden than some Asian rivals, which have been slapped with Heftier Levi.
While areas such as marine products will have an impact, with ecuador gains, sources said that exporters could detect new markets such as the European Union, where the government managed to reduce the rules in recent months. He said that if the US proceeds with high tariffs on pharmaceuticals, it will have a small impact on India.
The Ministry of Commerce can assist exporters, while countries like China may also demand to ensure that it bends cheap and subsidized goods in the Indian market.
