India-US Trade Deal: What Union Commerce Minister Piyush Goyal said regarding proposed 25 percent tariff imposed by Trump
Union Commerce Minister Piyush Goyal gave a statement regarding the proposed 25 percent tariff imposed by US President Donald Trump.
Piyush Goyal said, "The impact of this move of America is being assessed. The government is constantly monitoring the situation and the safety of domestic industry is our top priority."
Giving information to the Lok Sabha on Thursday, Piyush Goyal said, "The government is talking to industrialists. We will take all steps to keep the country safe."
Piyush Goyal said, "We are working for the farmers. The government will fully protect the interests of farmers, MSMEs and entrepreneurs."
According to Piyush Goyal, India has signed a free trade agreement with UAE and Australia, which has given new impetus to exports.
Earlier on Wednesday, July 30, US President Donald Trump announced a 25 percent tariff on India, referring to the business relationship between India and Russia.
Govt has taken note of the statement by US President on bilateral trade: Trump
Commenting on Trump’s tariffs an official spokesman here said the Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements including the latest Comprehensive Economic and Trade Agreement with the UK.
He said the Government had taken note of the statement by the US President on bilateral trade. The Government is studying its implications.
The spokesman aid India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months and India remains committed to that objective.
Pakistan and the US will work together on developing their oil reserves: Trump
Day after announcing 25 percent tariff with ‘’penalty’’ against India for buying military equipment and energy from Russia, US President Donald Trump said a trade deal with Pakistan had been concluded and both countries (India and Russia) could take their ‘’dead economies’’ down together.
He said the US had just concluded a trade deal with Pakistan where Pakistan and US could work together on developing their massive oil reserves and may be they (Pakistan) will sell their oil to India.
‘’We have just finalized a deal with Pakistan whereby Pakistan and the United States will work together to develop their massive oil reserves. We are in the process of choosing the oil company that will lead this partnership. Who knows may be they’ll be selling oil to India some day.’’
I do not care what India does with Russia: Trump
Trump said he does not care what India does with Russia. ‘’They can take their dead economies down together, for all I care,’’ he said in a series of tweets on his social media platform.
In another tweet he said the US has a ‘’massive trade deficit with India.’’ The US had done very little business with India, their tariffs are too high among the highest in the world.
‘’Russia and the US do almost no business together. Let’s keep it that way,’’ he said.