By Admin 
Expressing displeasure over buying oil from Russia, the US has also imposed 25 percent of additional tariffs on Indian products. 25 tariffs are already applicable, so products from India to America will have to face a huge tariff of 50 percent from Wednesday. Amidst all this, the US Finance Minister hopes that India and America will definitely come together one day.
US Finance Minister Scott Besant, however, hoped that Indo-US relations would remain strong. He said that India is the largest democracy in the world and America is the largest economy. In the end we will come together.
Talks stuck on trade agreement
Besant clearly said that the trade agreement has not been reached yet. He alleged that India’s attitude has been “performing” so far. He said that India started talks soon after Independence Day. It was expected that the agreement would be reached by May or June. But India took very cautious and measuring steps. Besant also said that India has earned profits from Russian oil and this is a big reason for the dispute.
Statements on Trump-Modi’s relationship
Besant admitted that the relationship between the two countries is complicated. He said that there are very good relationship between President Trump and Prime Minister Modi at a high level, but the matter is not just about Russian oil. Besant further said that America has a huge trade deficit with India. He explained that when there is a conflict in business, the country with losses (America) is in profit. A country with surplus (India) should worry. India may be selling things to America but its own tariffs are very high.
What did Besant say on the rupee and dollar?
When asked whether the trade in the rupee by India is a matter of concern, he replied that the Indian rupee is at the lowest level against the dollar at this time. I worry about many things, but the rupee will be a reserve currency, it is not among them.
India’s answer and PM Modi’s attitude
New Delhi has made it clear that it will not bow down to American pressure. Prime Minister Narendra Modi said that he will never compromise on the interests of farmers. According to a report by German newspaper Frankfurter Algemine Siteung (FAZ), PM Modi did not pick up four phone calls of President Donald Trump in recent weeks. The report said that this is a sign of both his anger and vigilance.