US President Donald Trump announced a mutual tariff on several countries of the world from 2 April, which has been reacted by the Indian Ministry of External Affairs. The Ministry of External Affairs said on Friday that the two countries are negotiating to resolve issues like tariffs and market access. This reaction of the Ministry of External Affairs came two days after Donald Trump’s announcement of a plan to impose mutual tariffs on India next month. This move by America may affect Indian exports.
What did the Ministry of External Affairs say about the US tariff?
Foreign Ministry spokesman Randhir Jaiswal said that talks are going on between the two countries and it is expected that there will be some kind of agreement between the two soon. Jaiswal told a media briefing that India is talking to the US administration to finalize the beneficial multi-regional trade agreement for both countries. However, he did not directly answer the question whether India expects a mutual tariff discount from April 2. When PM Modi visited Washington for talks with Trump in February, the two countries announced that they would negotiate the first phase of the bilateral trade agreement by the autumn of 2025. Despite these talks, Trump has voiced against India’s tariff structure and has said many times that he will put mutual tariffs.
Trump once again attacked India
On Wednesday, Trump attacked India and described it as one of the most tariffs. He said, ‘I have very good relations with India, but the only problem with India is that they are one of the most tariffs in the world. I believe that they will probably reduce the charges significantly, but on 2 April we will charge them the fees they charge from us.
Will the trade war broke out in the world?
Trump’s tariff threats have increased the possibility of global trade war. Many countries are considering taking back measures to deal with this situation. When Jaiswal was asked if India is expecting some concessions from America, he said, “We will have to wait till the talks are over.”
Trade between the two countries will reach $ 500 billion in 5 years: Government
Minister of State for Commerce and Industry Jitin Prasad told Parliament on Friday that the Government of India is working with the US administration to increase bilateral trade relations in a mutually beneficial and equitable manner. Responding to a question raised by the CPM MP, Jitin Prasad said that apart from negotiating bilateral trade agreement, the two sides have agreed to deepen economic relations and increase the bilateral trade to more than $ 500 billion than doubled by 2030 by 2030.
