US President Donald Trump announced from April 2 to impose mutual tariffs on many countries of the world, including India, to which the Indian Foreign Ministry has reacted. Mea said on Friday that the two countries were talking to resolve issues like tariffs and market access. The Foreign Ministry has reacted two days after Donald Trump’s plan to impose mutual tariffs on India next month. The US move could affect Indian exports.
What did Mea say about American tariffs?
Mea spokesperson Randhir Jaiswal said that the two countries were talking and hopefully there will be some kind of agreement between the two soon. Jaiswal said in a media briefing that India was talking to the US administration to finalize the multi-area trade agreement beneficial to both countries. However, he did not answer the question directly whether India expects concessions in reciprocal tariffs from April 2. When PM Modi went to Washington with Trump in February, the two countries announced that he would negotiate the first phase of a bilateral trade agreement by the autumn of 2025. Despite this conversation, Trump has raised his voice against India’s tariff structure and has often said that he will impose mutual tariffs.
Trump’s once again attacked India
Trump attacked India on Wednesday and described it as one of the most tariffs. He said, “I have many good relations with India, but the only problem with India is that they are one of the most tariff countries in the world. I believe they will probably reduce that tariff, but on April 2 we will recover the same tariff from them that they will recover from us.
Will trade war in the world erupt?
Trump’s tariff threats have accelerated the threat of a global trade war. Many countries are planning to take adverse steps to cope with this situation. When Jaiswal was asked on the issue whether India was expecting some exemption from the United States, he said, “We have to wait till the conclusions of the talks.”
There will be $ 500 billion trade in 5 years between the two countries: government
Minister of State for Commerce and Industry Jitin Prasad said in Parliament on Friday that the Indian government was working with the US administration to enhance bilateral trade relations mutually beneficial and fairly. Responding to a question asked by the CPM MP, Jitin Prasad said that in addition to negotiating a bilateral trade agreement, the two sides have agreed to close the bilateral trade more than doubled to more than $ 500 billion by 2030, growing economic relations and closing trade relations in various sectors.
