Donald Trump
The Economic Research Institute Global Trade Research Initiative (GTRI) has said that India’s import duty is in line with global trade rules and the government should inform the US administration. GTRI also said that talks on a comprehensive free trade agreement with the US are quite challenging. The GTRI said that the US may pressurize India to open government procurement, reduce agricultural subsidy, weaken patent security and remove curb from data flow. The research institute said that India has opposed these demands for decades and is still not ready to accept it. US President Donald Trump has alleged on several occasions that the fee in India is quite high.
Trump has said till ‘Tariff King’
Trump has called India ‘Tariff King’ and ‘Tariff Abuser’. The duty charged by the government is the import duty, which the government collects. Companies pay it to bring foreign goods to the country. GTRI founder Ajay Srivastava said, “India’s fees are in line with the rules of the World Trade Organization (WTO). These are the result of single commitment expressed in the WTO which was approved by all countries including the US in 1995. Indian fees are in line with WTO. The Indian side needs to make America clear. ”
Trump forgot it easily
It is the only international platform with 166 members, which looks at the trade rules between different countries. When the WTO was established in 1995, the developed nation agreed to maintain high fees of developing countries in return for trading aspects (trips) of intellectual property rights (trips), service trade liberalization and agricultural rules. He said that many developing countries argue that the commitments made under trips and agriculture have benefited developed countries, which has limited their industrialization capacity. He said, “Trump has easily forgotten it while talking about high fees on India.”
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