The United States has expressed strong intention to establish a comprehensive trade agreement with India, with discussions involving all sectors, as stated by a US Embassy spokesman. This development arises as the two countries are trying to achieve the ambitious 500 mission, which aims more than double the total bilateral trade of up to $ 500 billion by 2030.
During a visit by Prime Minister Narendra Modi to Washington, US President Donald Trump and Prime Minister Modi set this ambitious goal of improving economic co -operation. As part of this initiative, the two leaders announced plans to negotiate the first phase of mutually useful, multi-sectoral bilateral trade agreement, which is expected to be finalized by the fall of 2025, according to a spokesman.
US Secretary of Trade Howard Latvno has confirmed this obligation, stressing the United States’ desire for a “big trade agreement” with India. He also stressed Washington’s priority to reduce the current level of tariffs in India, a long -standing issue in trade discussions between the two nations.
“The United States is demanding a comprehensive trade agreement with India, without excluding the sector,” said Secretary Lunnut, who added that reducing tariff barriers is a key goal.
Last week, during the conclave of India today, Lovnor stressed the importance of India to reduce the tariffs of US products to strengthen the link between the two nations. Lunno emphasized the need for a significant trade agreement that covers all key aspects and encouraged direct bilateral discussions to restore trade dynamics.
In line with Trump’s views, he noted that India’s tariffs are among the highest globally, stressing the need to review the trade partnership to shape the future link between Delu Delhi and Washington.
“It’s time to do something big, something big, something that connects India and the United States together, but it does it to a wide scale, not a product by product, but all the work. To bring India’s tariff policy to America down, and America will invite India to have a truly outstanding opportunity and connection with us, “Latno said.
Earlier, US Embassy spokesman Chris Elms also said that President Trump’s “fair and reciprocal plan” was aimed at correction of long -standing imbalances in international trade and restoring righteousness in America’s trade relations.
He said: “The United States is one of the most open economies in the world, yet our trading partners are maintaining barriers to our exports. This lack of reciprocity is unjust, contributes to the large and permanent trade deficit of the United States and endangers our economic and national security. ”
The United States reportedly sought any duties for all products traded with India, except agricultural products. According to Reuters news agency, the United States is pressing for zero duties of Tesla cars sent to India. A spokesman for the US Embassy mentioned that all sectors are considered exceptions to duty.
“As the Secretary of Trade Lovnut said, the United States is demanding an agreement on major trade between India and the United States, and the United States is trying to reduce the levels of India’s tariffs. Secretary Latno said that no sector should be out of the table, “he said.
No commitments to trade tariff: India
During a briefing to the parliamentary commission on Monday, Trade Secretary Sunil Bartwal said that India had not undertaken obligations regarding the reduction of trade tariffs in the United States. The statement was made in response to US President Donald Trump’s recent claim that India had agreed to significantly reduce its tariffs.
Bartwell clarified that negotiations between the two countries are still underway and is not a finalized trade agreement. Addressing the concerns caused by some members of Parliament over Trump’s claims, Bartwell noted that India had not undertaken commercial tariffs in the United States, stressing the importance of ongoing talks on the bilateral trade agreement.
“Unable to go according to the US president’s claims and media reports, because talks on the bilateral trade agreement between the two nations are still involved. India has not devoted itself to anything to the US trade tariffs, “Bartwall said.
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