India US Trade Deal: Relations between India and the US are now back on track. Speculation is rife that a trade agreement between the two countries could be reached soon and that the US-imposed tariffs on India could also be reduced. The 50 per cent tariff on Indian exports could be reduced to 15 per cent. It is believed that this agreement is likely to benefit Indian traders, as India exports many goods to the US.
Donald Trump Tariff Reduction: Tariff reduction possible
Trump first imposed a 25 per cent tariff on India, and then, expressing displeasure over Russia’s oil purchases, imposed an additional 25 per cent tariff, bringing the total tariff to 50 per cent. Now, after a trade agreement between the two countries, the tariffs could be reduced, and a tariff of 15 to 16 per cent could be imposed.
India US Trade Deal: Businessmen from many sectors benefit
A trade agreement between India and the United States may be reached soon, but it has not yet been confirmed. It should be noted that this trade agreement could benefit Indian businesses in several sectors, including pharmaceuticals, jewelry, textiles, automotive parts, and electronics.
India Russia Oil Trade
Calling PM Narendra Modi his friend, Trump said, “We have a very good relationship, but I wasn’t happy that India was buying oil.” Describing his close relationship with the Indian leader, Trump said, “He’s a friend of mine.” Meanwhile, Trump also warned China to reach a trade deal or face a 155 per cent tariff.
Read More: Toxic smog covers city, 2 days after Diwali, Delhi became highly populated city
