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100 days of Donald Trump Administration: In 100 days of Donald Trump, the tariff policy increased the dispute between China and America. India also announced tariffs on India, but postponed. To resolve the Indo-US tariff dispute …Read more
There is a possibility of trade agreement between India and America soon.
Highlights
- The Trump government completed 100 days.
- Indo-US tariffs are moving towards resolving disputes.
- India will get protection from tariffs by trade agreement.
100 days of Donald Trump Administration: It has been 100 days since US President Donald Trump is in power. During this time, he has brought a stir in the world with his tariff policy. The controversy over the issue of tariffs between China and the US went ahead. Trump did not leave his close friends either. He announced a tariff against India. However, he postponed it for the next few days of a few days. Meanwhile, India and America are moving fast towards resolving this tariff dispute. Donald Trump himself also said on Tuesday that talks on tariffs with India are going very well and they are confident that both countries will soon enter into a trade agreement. He said that I think we will compromise with India.
Trump made this statement when he was asked about the ongoing business talks between India and the US. Trump also told that recently Prime Minister of India Narendra Modi visited the White House and he is keen on this agreement.
Agreement will be saved from tariff
Trump’s statement came a day after the US Finance Minister Scott Besant’s statement that he said that India will be in the first countries that will finalize the bilateral trade agreement with the US. Besant also said that this agreement will help protect India from the counter tariffs of America.
In fact, Trump had announced on April 2 to impose recipes on India, China and many other countries. This included a general duty of 10 percent on imports from all countries and special fees of steel, aluminum and 25 percent on motor vehicle products. However, on 9 April, Trump postponed these fees for 90 days for the rest of the countries except China and Hong Kong. This decision was taken because about 75 countries contacted the trade agreement with the US. Nevertheless, a general fee of 10 percent and a special fee of 25 percent are still applicable.
India and america trade relations
Trade relations between India and America have been important for a long time, but in recent years, some tension has also been seen about tariffs and trade policies. Trump’s policies are based on the US First, under which it is strict on imports to strengthen the US economy. On the other hand, India is also emphasizing programs like self -sufficient India and Make in India to promote its economy. In such a situation, a balanced trade agreement between the two countries can be beneficial for both.
Experts believe that if there is an agreement between India and the United States, it will help to increase India’s exports and make Indian products easier. Especially for India, there is a possibility of increase in export of information technology, pharmaceuticals, textiles and agricultural products. On the other hand, America can take advantage of India’s large market, especially in the fields of energy, defense and technology.
