Sisheer Philip
India and the US have collaborated for months to achieve a fair, balanced, and mutually advantageous bilateral trade deal. “The ministry stated in a press release that we continue to be dedicated to this objective.”
It stated that the administration “has acknowledged US President Donald Trump's comments regarding trade between the two countries.”
The Indian Commerce Ministry stated that the nation “will implement all required measures to safeguard national interests.”
On Wednesday, Trump announced that the US would implement a 25 percent tariff on Indian exports starting August 1. He stated that India has consistently purchased most of its military hardware from Russia and, alongside China, is the biggest consumer of energy from Russia. Thus, Trump highlighted that starting in August, “penalties will be imposed on India” for this policy.
In mid-June, Bloomberg reported, based on sources, that officials from India and the United States started to show a less compromising approach in their negotiations.
Prior to that, Trump enacted 26% tariffs on exports from India. On April 9, the president declared that he had chosen to halt for 90 days the execution of decisions to raise import duties concerning over 75 countries that sought discussions on this matter.
source: bloomberg.com
It stated that the administration “has acknowledged US President Donald Trump's comments regarding trade between the two countries.”
The Indian Commerce Ministry stated that the nation “will implement all required measures to safeguard national interests.”
On Wednesday, Trump announced that the US would implement a 25 percent tariff on Indian exports starting August 1. He stated that India has consistently purchased most of its military hardware from Russia and, alongside China, is the biggest consumer of energy from Russia. Thus, Trump highlighted that starting in August, “penalties will be imposed on India” for this policy.
In mid-June, Bloomberg reported, based on sources, that officials from India and the United States started to show a less compromising approach in their negotiations.
Prior to that, Trump enacted 26% tariffs on exports from India. On April 9, the president declared that he had chosen to halt for 90 days the execution of decisions to raise import duties concerning over 75 countries that sought discussions on this matter.
source: bloomberg.com
