Relief for India! US hints of a separate tariff category for India…
A good news related to tariff has come from America for India. According to the report, America has hinted to keep india in a different tariff category from China, mexico and Canada. For the first time on wednesday, face-to-face talks between india and America started in the national capital Delhi on the trade agreement. During this, the concerned American officials gave a hint to their indian counterparts in their talks that india will not be treated like China, mexico and canada in terms of tariff.
Now the officials of both the countries should focus on the matter
This meeting between the trade officials of both the countries took place at a time when the reciprocal tariff of US President donald trump is going to be implemented from april 2. After assuming the office of President for the second time in january this year, trump started a trade war with China. Along with this, he also announced tariff on canada and Mexico. In this three-day dialogue between india and America in Delhi, both the countries will focus on such a framework which will benefit both.
America has a special relationship with India
Let us tell you that this meeting between the officials of the two countries is taking place after the recent US visit of Union Commerce minister Piyush Goyal. Here he met US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick regarding the India-US Trade Agreement (BTA). According to the Hindustan Times report, an official aware of this conversation has said, "Now it is completely clear that America does not see india in the same category as countries like China, mexico and Canada."
Discussions on 'India-US Fast Track Mechanism' started on wednesday between indian officials headed by Additional Secretary of Commerce Ministry Rajesh Agarwal and the US team headed by US Assistant Trade Representative Brendan Lynch. The report said that the framework of the Bilateral Trade Agreement (BTA) is expected to be finalized by Friday.
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