By Admin 
India US Trade Deal: Due to high tariffs, the strain in relations between India and America may soon come to an end. Both the countries are very close to finalizing the proposed Bilateral Trade Agreement (BTA), as there seems to be agreement between the two sides on most of the issues.
India-US close to deal
According to news agency PTI, a senior official said on Friday that the provisions and conditions of the trade agreement between the two countries are being finalized. He said, “As far as the agreement with America is concerned, we are very close to finalizing it.” The officer further said that there are very few issues left to resolve. The talks are progressing smoothly and no new issue is now becoming a hindrance in the talks. He said that so far five rounds of negotiations have been completed for the first phase of India-US bilateral trade agreement.
Piyush Goyal’s strong statement
At the same time, Union Commerce Minister Piyush Goyal has said that India is not in any hurry regarding the trade agreement. This statement of Goyal has come at a time when India is negotiating trade agreements with America and the European Union (EU). According to news agency Reuters, during the Berlin Global Dialogue, Goyal said that any condition imposed by trading partner countries, which hinders India’s trade options, will not be accepted.
It is worth noting that talks are continuing between India and the European Union regarding the Free Trade Agreement (FTA), but no consensus has been reached yet on market access and other issues.
Apart from the EU, India is also discussing trade agreements with many other countries including America. In such a situation, this comment of Goyal has come at a time when tremendous pressure is being put on India by the Trump administration and the European Union to buy cheap crude oil from Russia. America has imposed a high tariff of 50 percent on India, to which an additional tariff of 25 percent has also been added due to the purchase of cheap crude oil from Russia.
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