By Admin 
India-US Trade Deal: Talks on trade deal between America and India are stuck. Meanwhile, on Thursday, US Commerce Secretary Howard Lutnick claimed that the talks on trade deal between India and America could not be finalized because Prime Minister Narendra Modi refused to call US President Donald Trump personally and hence the deal did not happen.
Lutnick also said, “The attacks struck deals with Indonesia, Vietnam and the Philippines.” We were hopeful that the deal with India would be completed before this. The deal was completely ready, but PM Modi did not call the President, due to which his ego was hurt and the deal was not completed.
Threat of 500 percent tariff on India
Earlier, US Senator Lindsey Graham said that President Trump has given the “green signal” to the ‘Sanctioning Russia Act’. This will put pressure on countries importing crude oil from Russia at cheaper rates, which will help in stopping Russian attacks in Ukraine. Under this bill, special mention was made of imposing tariffs up to 500 percent on India, China and Brazil. Overall, talks between the two countries are currently complicated on many issues.
India’s exports came under tension
However, the country’s exporters believe that Indian and American officials should sit face to face and resolve the issues so that a mutually beneficial trade agreement can be reached.
He says that America has already imposed 50 percent tariff on India, which is causing loss to both the countries. Now if the tariff increases further, it will cause a big blow to the business of both America and India. SC Ralhan, president of Federation of Indian Export Organization (FIEO), says both sides should continue talks for a deal. An exporter associated with the leather industry said, America is a big market for India and the trade agreement will boost the country’s exports.
“Although we are looking for new markets, America is a major market,” the exporter said. Another exporter from the engineering field said that the bilateral trade agreement between the two countries will help in reducing uncertainties on the trade front.
Think tank GTRI said that the blockage in the India-US trade deal reflects difficult policy decisions rather than a missed phone call. Ajay Srivastava, founder of the Global Trade Research Initiative (GTRI), said, “It may be an easy story to portray this delay as a matter of personal diplomacy, but it masks the significant differences that both sides have yet to resolve and risks undermining one of the most important trading relationships in the global economy.”
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On the other hand, Trump imposed tariffs, on the other hand India and China came closer; started trading a lot of goods