New Delhi5 minutes ago
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India’s export of about 85 thousand crore rupees is being badly affected due to American tariff.
The US may end 25% penalty tariffs imposed on India and 25% counter -tariffs can also be cut. This has been said by the Chief Economic Advisor (CEA) V. Anant Nageswaran of the country. Speaking at an event in New Delhi, Nageswaran said,
I think this tariff will not remain after 30 November. This is not a statement -based statement, but given the recent developments, I hope that there will be a solution on tariffs and counter -tariffs in the next two months.
25% counter tax will also be 10-15%
CEA Nageswaran indicated that the counter tax of 25% may come under 10-15%. He said that the problem of the entire tariff can be solved in the next 8-10 weeks. This statement comes at a time when relations between America and India are coming on track again.
On Tuesday, India’s Chief Trade Negotiator and Special Secretary of Trade Ministry, Rajesh Agarwal, met America’s Trade Representative Brendon Lynch. On September 16, the US team reached India to talk on the trade deal for the first time after Trump’s 50% tariff was imposed.
America imposed 50% tariff on India
In fact, the US has imposed 25% counter -tariff and 25% tariff in the form of penalty due to buying oil from Russia due to more tariffs on India, due to which India’s export of about 85 thousand crores is being badly affected. This led to bitterness in the relationship between the two countries, although it was softened after some of the recent statements by President Donald Trump.
Trump had said- Modi will talk on good friends, trade barrier
Amidst the Indo-US trade deal negotiation and tariff tension, US President Donald Trump said on September 10 that he was confident that the ongoing talks between Washington and Delhi would soon reach a better result. Trump said that he will talk to Prime Minister Modi in the coming weeks to finish all kinds of trade barriers.
Trump wrote in a post on Truth Social, ‘I am happy to say that talks are going on between India and America to remove the trade barrier. In the coming weeks, I am eager to talk to my very good friends, PM Modi. I am confident that there will be no problem for both great countries to reach a successful result.
Modi had said- Indo-US Natural Partner
About 5 hours after this post of Trump, PM Modi also wrote in an X post, ‘India and America are good friends and natural partners. I am confident that our trade negotiation will make a way to open the unlimited possibilities of Indo-US partnership.
Our teams are working hard to complete these discussions as soon as possible. I am also waiting to talk to President Trump. Together we will ensure a better and rich future for the people of both countries. ‘
Trump had said- America lost India
Earlier on Friday, September 5, at the SCO Summit, PM Modi, Russian President Putin and Chinese President Jinping together said that Russia and India have now gone to China. He wrote on Truth Social- ‘It seems that we have lost India and Russia to China. Hopefully their future will be good.
CEA had said- if the tariff is pulled, there is a big threat to India
Recently, in an interview to Bloomberg TV, Nageswaran said that I hope this extra tariff will not last long. In this financial year, the time the time remains this tariff, it can be affected from 0.5% to 0.6% on GDP. But if this tariff is pulled by next year, the effect will be bigger, which can pose a big threat to India.
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