US President Donald Trump
The trade war started by US President Donald Trump has started showing its appearance. After announcing the announcement of additional fees on Canada by Trump, Canada has also announced to impose 25% additional fees. Let us tell you that the Prime Minister of Ontario, the most populous province of Canada, has announced a 25 percent more fee for electricity from 1.5 million Americans in response to the trade war of US President Donald Trump. Ontario exports electricity to Minnesota, New York and Michigan. Ontario’s Prime Minister Dug Ford said in a statement on Monday, “President Trump’s fees are a disaster for the American economy. They are making life more expensive for American families and businesses. ‘
Ontario will not back down
He warned that Ontario will not back down until the danger of the fee is completely eliminated. He said, “We will stand firmly, we will use every option available and whatever will have to be done to protect Ontario.” Ford said that despite the relief of one month from Trump, the fee of Ontario will remain in force, one month’s break means and more uncertainty. Ford’s office said that according to the new market rules, any generator selling power to America will have to add 25 percent overload in the US. Ontario’s government hopes that it will give a revenue of three to four lakh Canadian dollars per day.
Trade talks with America continue: India
Commerce Secretary Sunil Barthwal told a parliamentary committee on Monday that no agreement has been reached between India and the US on trade fee yet and negotiations in this direction are still going on. According to sources, Barthwal informed the Parliamentary Committee of Foreign Affairs about the recent claims of US President Donald Trump that India had agreed to ‘reduce its fee significantly’. At the same time, Foreign Secretary Vikram Egypt informed the Parliamentary Committee about the developments related to China and Europe. Many Members of Parliament expressed concern over Trump’s claim to agree to reduce India’s customs duty. On this, the Commerce Secretary said that no person can rely on these claims and media reports as negotiations on bilateral trade agreement between the two countries are still going on.
No one will benefit
He told the Parliamentary Committee that India has not expressed any commitment on the trade fee front with the US. Sources said that many members asked Barthwal questions on the US-India trade talks and allegedly addressed their apprehensions, saying that India’s interests would be taken care of during the trade talks. According to sources, Barthwal told the Parliamentary Committee that India is in favor of free trade and wants liberalization of trade, which will help in increasing trade between the two countries. Along with this, the Commerce Secretary said that no one including the US will benefit from the fee war and it can give a noise of recession. However, some members of Parliament asked him why India is not raising its voice like Mexico and Canada with US steps at customs. On this, Barthwal said that both cases cannot be compared because America’s security concerns and boundary immigration issues with them.
Beneficial agreement will be signed
According to sources, Barthwal told the Parliamentary Committee that India would sign a ‘mutually beneficial agreement’ with the US. He also said that India will protect industries that are important for its domestic economy. He said that India can reduce the customs duty bilaterally but it cannot be done multilaterally and that is why bilateral trade agreement is being done. Meanwhile, Foreign Secretary Vikram Egypt informed the Parliamentary Committee about India’s relations with China and Europe. According to sources, Egyptian said that the construction of the dam on the Brahmaputra River in Southeast China is a matter of concern for India, as China has set funds for its development in its plan outlay.
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