President Trump praised his relationship with India but expressed frustration over its high tariffs, indicating reciprocal tariffs may be imposed from April 2. Trump is critical of India’s trade practices, describing it as a ‘tariff king’ and calling for negotiations to lower trade barriers. Ongoing discussions aim to establish a mutually beneficial Bilateral Trade Agreement.
United States President Donald Trump recently acknowledged his excellent rapport with India but emphasized one significant concern: India’s high tariffs, which rank among the highest globally. In an interview with Breitbart News, Trump indicated the potential for India to lower these tariffs but noted that if no progress is made, the United States would implement reciprocal tariffs starting April 2.
Trump referenced the India-Middle East-Europe Economic Corridor (IMEC), praising the collaborative efforts of nations working against trade adversaries. He emphasized the importance of mutual respect in trade relationships, expressing discontent with how some nations, which are considered allies, treat the United States unfavorably compared to less friendly countries. He reiterated that India, despite being an ally, imposes substantial tariffs that hinder trade.
In past remarks, President Trump has consistently criticized India’s trade practices, labeling it a “tariff king” for imposing steep tariffs on American imports. He has stated the difficulties faced by American businesses wishing to operate in India due to these barriers. Despite Trump’s firm stance, India has expressed a desire to enhance trade relations, including potential tariff reductions, as part of future trade negotiations.
During a recent visit to the United States, Indian Prime Minister Narendra Modi and Trump discussed a mutually beneficial Bilateral Trade Agreement (BTA), aiming to address these trade barriers. Meanwhile, Indian Commerce Secretary Sunil Barthwal revealed ongoing negotiations, underscoring that an agreement has not yet been reached regarding trade tariffs between the two nations.
In summary, President Trump’s strong relationship with India is overshadowed by concerns over India’s high tariffs. The looming reciprocal tariffs, slated for implementation on April 2, signal a potential escalation in trade tensions. Both nations are engaged in ongoing discussions to establish a Bilateral Trade Agreement that could alleviate these concerns and promote beneficial trade relations.
Original Source: www.business-standard.com
