Donald Trump on PM Modi: US President Donald Trump has again given a statement on trade deal with India. Describing Prime Minister Narendra Modi as a good friend, he expressed confidence that soon both the countries will reach an agreement. During this, on one hand Trump praised PM Modi, but on the other hand he also taunted India.
‘India took advantage of America, now…’
Speaking to reporters at the White House, President Donald Trump said that India took advantage of America for years. They imposed heavy tariffs on us and gave nothing in return. Now the situation is completely opposite and we are making a lot of money with India. We will reach an agreement, because I like your Prime Minister (Narendra Modi) very much. He is my good friend and we get along well. Our relations are good.
This comment of Trump has come at a time when talks on trade issues between India and America have intensified. Officials of both the countries discussed in detail in New Delhi from 1 to 4 June. USTR officials spoke with Indian counterparts on key issues such as trade in goods, customs, trade facilitation, non-tariff barriers and economic security.
final phase of negotiations
US Ambassador Sergio Gore said that the talks are in the final stages, only a small part is left. At the same time, Union Commerce Minister Piyush Goyal has also indicated that consensus has been reached on most of the issues. Now only the final points are being worked out, after which the first phase of the agreement can be announced.
Preparation for new tariffs on 54 countries, India also included
Meanwhile, on Tuesday (June 2), America made a big proposal for new tariffs on many countries. There are preparations to impose additional duty of 10 percent and 12.5 percent. The US administration claims that its investigation has revealed that goods coming from 60 countries are being made using forced labour.
The US Trade Representative Office (USTR) has released a list of 54 countries. These countries are accused of not properly enforcing their laws banning the import of goods made with forced labour. This list includes countries like India, Australia, China, Israel, Japan, Qatar and Russia.
According to USTR, countries that already have certain regulations in place or have promised to enact such regulations under trade agreements may face an additional 10 percent tariff. It is proposed to impose a tariff of 12.5 percent on the remaining countries. Apart from this, a special textile system has also been kept in the proposal, under which a certain quantity of clothes and textile products from some countries can be imported into America at a lower tariff rate.
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