President Trump regards his relationship with India positively but criticized its high tariffs. He plans to impose U.S. tariffs reciprocally starting April 2 unless reductions are made. Trump has consistently labeled India as a high tariff nation, and ongoing negotiations seek to address these trade barriers, potentially leading to a Bilateral Trade Agreement.
In a recent commentary, President Donald Trump characterized his relationship with India as “very good,” but expressed concerns regarding the country’s high tariffs, noting that it ranks among the highest tariffing nations globally. He reiterated the potential for reciprocal tariffs to be imposed on India beginning April 2, emphasizing trade fairness.
During an interview with Breitbart News, Trump reflected on his previous summit with Prime Minister Narendra Modi, emphasizing that he anticipates significant reductions in Indian tariffs. He stated, “On April 2, we will be charging them the same tariffs they charge us.” Trump also acknowledged the formation of the India-Middle East-Europe Economic Corridor (IMEC) as a coalition aimed at managing trade relations with other nations.
Trump remarked that while some countries treat the U.S. better than allies, the coalition’s goal is to protect mutual interests in trade. He highlighted that the U.S. has had better trade dealings with some foes compared to friends, pointing specifically at the European Union as an example of unfavorable trade practices. Trump has consistently criticized India’s tariffs, dubbing the nation as the “tariff king”. He highlighted the difficulties American businesses face in penetrating the Indian market due to significant trade barriers and tariffs.
Commerce Secretary Sunil Barthwal recently reported ongoing negotiations regarding tariffs between India and the U.S., noting that no concrete agreements have been established. Concurrently, India has expressed an interest in strengthening trade relations with the U.S. through reductions in tariff and non-tariff barriers under a prospective bilateral trade agreement. During Modi’s visit to the U.S., both nations committed to exploring a multi-sector Bilateral Trade Agreement (BTA) that could benefit both partners engaged in trade.
In conclusion, President Trump has expressed both support for and frustration with India’s high tariffs, stressing the need for reciprocal measures unless reductions are made. Despite these tensions, both nations are engaged in ongoing negotiations aimed at enhancing trade relations. The potential Bilateral Trade Agreement represents a significant opportunity for both countries to address existing barriers and strengthen economic partnerships.
Original Source: www.ndtv.com
