New Delhi, 4 July (IANS). US President Donald Trump has announced that the US administration will start sending letters from Friday to inform business partners about their tariff rates, while negotiations have reached the final stages with various countries including India to avoid high US charges.
Trump told reporters late on Thursday that letters will be sent to about 10 to 12 countries on Friday and additional letters will be sent in the next few days.
He said that tariffs would be between 60 percent -70 percent and 10 percent -20 percent, which these countries will have to start repaying from August 1 to trade with the US.
Media reports quoted Trump as saying, “My inclination is to send a letter and tell which country will have to pay how much tariff. We have more than 170 countries and how many deals can you do? You can do good deals, but they are very complicated.”
He said, “I just want to make a simple deal, where you can maintain and control it. You are going to pay 20 percent or 30 percent tariffs, and we are probably going to send letters to 10, different countries per day since tomorrow, which will tell what they are going to pay to do business with America,”
Trump has announced several trade deals including Vietnam and China. He said last month that the US and India could sign an agreement.
The announcement has been made before the July 9 deadline, which was determined by the Trump administration to deal with some countries after the announcement of the reciperook Tariff.
This was a 90 -day stop for business talks, during which the tariff rate for most countries was kept less than 10 percent to negotiate by 9 July.
India’s dialogue team led by Special Secretary Rajesh Aggarwal is in Washington to join high -level talks to end the bilateral trade agreement.
Indian and American negotiaters were aiming to finalize an interim trade deal before the July 9 deadline.
After this, negotiations are expected to continue to signed a large trade agreement in September-October.
The United States is demanding a wide market access to its agriculture and dairy products, a major obstacle for India as it is the issue of livelihood of small farmers of the country and hence it is considered a sensitive area.
-IANS
SKT/
