If US President Donald Trump imposes 20-25 per cent tariffs on India, as he threatened last evening, it will have a varied impact on different sectors, noted the founder of the Global Trade Research Initiative, Ajay Srivastava.
Referring to the recent trade agreements between US and other countries such as the EU, Indonesia, Philippines and the latest comments by Donald Trump that India may have to pay 20-25 per cent tariffs, Vice Chancellor of Indian Institute of Foreign Trade (IIFT) Professor Rakesh Mohan Joshi o
Referring to purported differences in understanding of US trade agreements and their clauses with Vietnam and Japan, think tank Global Trade Research Initiative (GTRI) suggested that India tread carefully as it negotiates its trade agreement with the US.
Foreign Secretary Vikram Misri revealed on Thursday that India has been actively engaged in discussions with the US on a potential Bilateral Trade Agreement (BTA), emphasising the ongoing contacts with partners in the US.
Claiming that the US-Indonesia trade deal was a "clear example of how aggressive US pressure can force" countries to ink one-sided agreements, think-tank Global Trade Research Initiative (GTRI) suggested India to be careful and not "fall into the same trap".
India on Thursday reiterated that de-dollarisation was not on the BRICS agenda, and the member countries were only looking at cross-border payments in local currency.
India is making concrete progress toward finalizing a Bilateral Trade Agreement (BTA) with the United States, with both countries committed to following the path outlined by their respective leaders, a senior government official said on Monday.
A high-level team from India's Commerce and Industry Ministry has arrived in Washington DC, to take forward crucial negotiations for a Bilateral Trade Agreement (BTA) with the United States.
Speaking on the sidelines of the 16th Toy Biz B2B expo in New Delhi, Goyal made it clear that India's approach to international trade negotiations remains firm and principled.
Government sources emphasised that India's national interests will remain paramount in ongoing negotiations, even as both nations work intensively to reach an interim deal before the deadline expires
Given that India has much higher tariffs than those imposed by the US, the impending bilateral trade agreement -- that would reduce tariffs-- is set to increase the US's exports to India more than vice versa, according to an analysis by Crisil.
"As an industry, we will be very happy with zero duty. It will create a level playing field. We are very confident of our price points, of our machines, the quality of our machines, and we believe that if there is a zero duty, we would be very happy to sell those machines in a very competiti