“India and the US have been engaged in negotiations on concluding a good, balanced and mutually useful bilateral commerce settlement over the previous couple of months. We stay dedicated to that goal
The Authorities attaches the utmost significance to defending and selling the welfare of our farmers, entrepreneurs, and MSMEs,” stated the ministry in an announcement. “The Authorities will take all steps essential to safe our nationwide curiosity, as has been the case with different commerce agreements together with the most recent Complete Financial and Commerce Settlement with the UK,” stated the assertion.
Trump stated in a publish on Fact Social earlier Wednesday he would impose a 25% tariff on items imported from India, beginning Aug. 1. He added that the world's fifth-largest financial system would additionally face an unspecified penalty, additionally beginning on Friday, however gave no particulars.
