Washington, D.C., March: U.S. President Donald Trump announced on Friday that India has agreed to significantly reduce tariffs on American imports, following his continued criticism of New Delhi's trade policies.
“India charges us massive tariffs—massive. You can’t even sell anything in India. They have now agreed to cut their tariffs way down because somebody is finally exposing them for what they have done,” Trump stated, as reported by ANI.
This marks the third time in as many days that the U.S. President has raised concerns about India’s tariff regime. His remarks coincide with Indian Commerce Minister Piyush Goyal’s visit to Washington for trade discussions with U.S. counterpart Howard Lutnick.
Bilateral Trade Agreement: A Pathway to Strengthened Ties
The Ministry of External Affairs (MEA) emphasized on Saturday that the proposed Bilateral Trade Agreement (BTA) with the United States holds the potential to significantly enhance trade between the two nations.
“The two governments are in the process of advancing discussions on a multi-sector Bilateral Trade Agreement. Through this agreement, our objective is to strengthen and deepen India-U.S. trade in goods and services, increase market access, reduce tariff and non-tariff barriers, and enhance supply chain integration between the two economies,” stated MEA spokesperson Randhir Jaiswal.
Call for Agricultural Market Liberalization
Meanwhile, U.S. Commerce Secretary Howard Lutnick reiterated concerns over India's tariff policies, asserting that they remain among the highest globally. He urged New Delhi to reconsider its stance, highlighting the “special” bilateral relationship shared between the two countries.
Speaking at the India Today Conclave, Lutnick stressed the need for India to open up its agricultural trade to imports, suggesting that a more strategic approach would benefit both nations.
“The good thing is that your government truly understands your market, and we understand ours. The key is to find common ground. The Indian market for agriculture—it has to open up,” Lutnick remarked.
As trade negotiations continue, the focus remains on fostering a more balanced and mutually beneficial economic partnership between the United States and India.
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