India-Rus Trade Deal: The trade deal between India and America may soon be stamped. Recently, the fifth round of talks were also completed. In this, the tray deal was to wear the last blueprint. This deal is being considered important for India so that reciperook tariffs can be avoided and can be at the forefront of other Asian countries. The dialogue lasted in Washington for four days (14 July-17 July).

Let us know that America has fixed the deadline for installing reciperook tariff on 1 August. US President Donald Trump also recently said that the deal with India is almost final, but in the meantime if both countries do not reach any agreement, then the US will impose 26 % tariff on India.

Negotiations on these issues

India wants America to impose less tariffs on it than other Asian countries. However, it is being told that this dialogue has moved forward many levels from the common conversation on business, in which issues ranging from digital economy to ‘high technology trade’ also took place.

According to the report of The Financial Express, India has demanded exemption from the US from 25 percent on the auto sector and 50 percent tariff on steel and aluminum. There was also talks between the two countries on Somet (Special Chemicals, Organisms, Material, Equipments and Technology). The trade of these things is very regulated and only with reliable partners.

America demands from India

India wants to adopt a protective attitude towards its agriculture and dairy sector along with cum tariffs as America is trying to set a foot on these two sectors in India. Along with reducing import duty in agriculture sector, the US also wants India to let the genetically modified agricultural products come here. There is also a demand for America to reduce import duty on automobiles from India and buy more energy products from them.

Protecting the interests of its farmers, especially for grains like dairy sector and wheat and rice, India has demanded more access to the market for emerging manufacturing sectors like its labor-dominated and electronics. Apart from goods trade, another objective of America is to create a more liberal regulatory environment for its technology companies in India. So far, the US has announced a trade deal with Britain, Indonesia and Vietnam.

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US India Trade Deal: After imposing heavy tariffs on 14 countries, US President Donald Trump has said that a major trade agreement between the US and India could be completed soon. He made this statement during a private dinner with Israeli President Benjamin Netanyahu.

Trump said, “We are very close to an agreement with India.” He also informed that the US has already signed a trade agreement with the United Kingdom (UK) and China. This strategy of the Trump administration is considered to be a part of a large plan to re -shape global trade relations and establish America’s strength through tariffs.

America’s need to reduce trade deficit: Trump

The US President has said that the countries which do not accept the trade conditions of America, will soon have to face new tariffs i.e. tax. He said, “We have reached a good agreement with some countries. Some are going to happen soon with some, but we will send a new tax notice to the countries which will not accept our conditions.” Trump said that these taxes are necessary to reduce America’s trade deficit and strengthen the country’s economy and security.

Indo-US trade agreement may be held on 9 July

Sources told the news agency PTI that if the existing differences are resolved, the interim trade agreement between India and the US could be announced before 9 July. The two countries started a discussion on the bilateral trade agreement – BTA in February this year, which targets to complete the first phase by September -October. At the moment, the two countries are seriously trying to finalize an interim trade deal, so that the path of the final agreement can be easier.

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