New Delhi:
US President Donald Trump has announced the imposition of reciperook tax on India. This is to be effective from April 2. An American team is in India these days to decide its process and how much tax will be levied on which product. This includes Brandon Lynch, Assistant Trade Representative of America. This team will remain in India till 29 March. In the first round of this conversation, the terms of the proposed bilateral trade agreement (BTA) will be discussed between Indo-US.
India america trade
In the conversation starting on Wednesday, the BTA will be discussed on the agenda of the official level conversation to be held in the coming time and its time-limit. Government sources said that the US is rebuilding its business relations mainly with China, Canada, Mexico and the European Union. His trade deficit with these countries is very high, but America’s trade deficit with India is not very high. Even after this, America is worried about high tariff rates, especially the field of automobiles.
In view of this, India has started a unique initiative to interact with America on business. India’s concerns are about some non-traditional barriers imposed by the US. India will try to resolve all issues by mutual consent.
India’s relations with developed economies
Actually India wants to improve bilateral trade relations with major developed economies. From this he wants to achieve two objectives- safety of safe trade and supply chains. In this conversation of India-America, media coverage is not allowed. But it is expected that a shared statement should be issued after the talks are over.
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