In an interview, President Trump acknowledged his good relationship with India, stressing the concern over its high tariffs. He indicated the intention to impose reciprocal tariffs starting April 2 and discussed the importance of collaborative trade with other nations. Ongoing negotiations regarding trade tariffs between India and the U.S. could lead to a beneficial bilateral trade agreement.
President Donald Trump expressed his commendable relations with India while highlighting concerns over its significantly high tariffs, which he described as some of the highest globally. In an interview with Breitbart News, Trump reiterated his stance that, starting April 2, the United States would impose reciprocal tariffs on India equivalent to those currently levied by the country on American goods.
During the interview, he reflected on his recent summit with Prime Minister Narendra Modi, affirming, “I have a very good relationship with India, but the only problem I have with India is they’re one of the highest tariffing nations in the world.” Trump also anticipates that India might lower these tariffs considerably.
Furthermore, Trump discussed the India-Middle East-Europe Economic Corridor (IMEC), emphasizing the collaborative spirit among nations countering adverse trade practices. He remarked, “We have a powerful group of partners in trade” and noted the inconsistency where some adversaries treat the U.S. better than traditional allies, citing the European Union as an example.
Trump has consistently criticized India’s tariff policies, labeling the country as “tariff king” and expressing frustration at the barriers hindering U.S. exports. Previously, he noted during a press event that India has robust tariffs, making it challenging for U.S. businesses.
Commerce Secretary Sunil Barthwal recently indicated ongoing negotiations between India and the U.S., stating there is yet to be an agreement on trade tariffs. India is reportedly seeking to strengthen trade relations by addressing tariff and non-tariff barriers through a bilateral trade agreement with the U.S., as announced during Modi’s visit last month.
In conclusion, President Trump recognizes the strong relationship between the United States and India while expressing concerns regarding India’s high tariff rates. He signaled the potential imposition of reciprocal tariffs if changes do not occur. Ongoing negotiations hint at a future bilateral trade agreement aimed at alleviating trade barriers and enhancing economic ties between the two nations.
Original Source: www.business-standard.com
