Congress Rajya Sabha MP P Chidambaram on Saturday slammed BJP supporters and economic commentators welcoming the 10 per cent tariffs on Indian goods by the United States, asking them to condemn the "weaponisation of tariffs" by Donald Trump.
Global brokerage firm Goldman Sachs has upgraded its growth outlook for India and lowered its estimate of the country's current account deficit (CAD) following the announcement of the India-US trade deal, citing the positive impact of lower US tariffs on Indian exports.
The framework for the trade agreement with the United States reduces tariffs on Indian goods in the US to 18 per cent, while Washington has claimed the deal will help it export more agricultural products to New Delhi.
BJP National Spokesperson CR Kesavan on Sunday hailed the India-US Interim Trade Framework Agreement, which significantly reduces tariffs on Indian exported goods from 50 per cent to 18 per cent.
Speaking to reporters, Chaturvedi said the deal appeared uneven, noting differences in tariffs: the US will cut tariffs on Indian goods to 18%, while India will eliminate or reduce tariffs on US industrial and agricultural products.
The India-US trade deal reduces tariffs on Indian goods in the US to 18 per cent, while Washington has claimed the deal will help it export more agricultural products to New Delhi.
The India-US trade deal reduces tariffs on Indian goods in the US to 18 per cent, while Washington has claimed the deal will help it export more agricultural products to New Delhi.
The meeting is part of the EAM's ongoing three-day visit to the United States and comes a day after the announcement of the India-US trade deal under which Washington has agreed to lower tariffs on Indian goods to 18 per cent.
"India's agricultural sensitivities have been fully protected" in the India-US trade deal, which will reduce American tariffs on Indian goods to 18%, a senior government official told ANI on Tuesday.
He said the decision by the US administration to lower tariffs on Made in India goods reflects the strong leadership and effective diplomacy of Prime Minister Narendra Modi.
In its report titled "India: US-India conclude trade deal: President Trump lowers 'reciprocal' tariffs on India to 18%", Goldman Sachs noted that President Trump announced on social media a reduction in the reciprocal tariffs on Indian goods imports to 18% down from the earlier 25%, 'effecti
Uttar Pradesh Chief Minister on Tuesday thanked PM Narendra Modi and US President Donald Trump for reducing tariffs on Indian goods and recognising India as a reliable partner.