The 90 -day discount from US President Donald Trump’s recipe Tariff is about to end and its deadline is 9 July. Earlier, the government’s attitude has been made clear by Finance Minister Nirmala Sitharaman giving a big statement about India-Rus Trade Deal. He has said that India would like to make a big and good compromise with America, but the conditions will also apply for this.
Consideration of agriculture-country sector
Talking about a comprehensive agreement with the US, Nirmala Sitharaman said that there are still fixed limitations for agriculture and dairy sectors in India, which are very important to consider. Citing Donald Trump, the Finance Minister said in response to a question asked about the trade deal with the US during an interview, “Yes, why not, we would like to make a compromise, a big, good-shrine compromise.”
This thing said on the label of ‘Tariff King’
Nirmala Sitharaman also talked about India about India’s label of ‘Tariff King’ often used by Donald Trump and said that the tariff rates that are effective in India are much less than that. He further said that these effective Trafffs are declared in the Gazette after the approval of Parliament, which is far below the fixed limit of the World Trade Organization (WTO). In such a situation, it is completely inappropriate to call India a tariff king.
Consent on Indo-US trade deal!
Finance Minister Sitharaman’s statement came after the announcement of US President Donald Trump in which he said that the entire picture about the Indo-US trade agreement could be potentially clear before 8 July. According to TRUMP, the INDIA -U agreement may include removing all kinds of obstacles in trade between the two countries and the major areas affected by it include IT, manufacturing, services as well as automobile sectors. Meanwhile, India Today report quoted sources as saying that the terms of the bilateral trade agreement between Indo-American have now been agreed and have been finalized.
Trump said this about India
Significantly, it was said by Donald Trump last week that there may be a big business agreement with India soon and we are going to open doors for India. After his statement, the Finance Minister has given the first and big statement on the India-US deal to the Government of India and said that he would be ready for a big and excellent agreement. He has also said that during the conversation on trade between India-Rus, the Indian side has taken into account the concerns of the industries of all the sectors.
Donald Trump announced a reciprocal tariff on all countries on 2 April and later postponed for 90 days for all countries including India.