The government on Monday told a parliamentary committee that some ‘target lines’ cannot be crossed in business talks with the US and focused efforts are being made to reduce the adverse effects of heavy charges imposed by the US. Sources gave this information to PTI. According to sources, Foreign Secretary Vikram Egyptian and Commerce Secretary Sunil Barthwal informed the Standing Committee on Foreign Affairs headed by Congress MP Shashi Tharoor on the topic ‘Indo-US trade talks and fees’.
No agreement with agriculture and dairy sector
According to sources, the Parliamentary Committee was told that India’s business relations with the US are going through a difficult phase and the government is taking steps to deal with it. Sources said that the ‘target line’ related to business talks reflects India’s firm stance on American demand to open agriculture and dairy sector. Along with this, Trump has said that there will be no trade talks until the fee dispute is resolved between India and the US.
There have been several rounds of conversation between India and America
There have been several rounds of talks about the bilateral trade agreement between India and the US. At the same time, the government said that preparations are underway to emphasize export diversification strategy to reduce the impact of American tariffs and take advantage of trade agreements with other countries. However, the government told the Parliamentary Committee that Indo-US relations should not only be judged by business tensions and should be seen as a ‘permanent and strategic’ partnership.
America imposes a total of 50 percent tariff on India
Let us tell you that US President Donald Trump had earlier imposed a 25 percent tariff on Indian products and said that a separate fine for trade with Russia. Trump later announced a 25 percent additional tariff on India as a fine. After which the total American tariff on Indian products has increased to 50 percent.
