The International Commerce Analysis Initiative (GTRI) mentioned the UK, the EU, Japan, Indonesia, and Vietnam now face elevated tariffs, and in return, have given sweeping concessions –zero tariffs on US farm items, huge funding pledges, and purchases of American oil, gasoline, and arms.
India has made no such concessions, it added.
“Whereas Trump's announcement of a 25 per cent tariff plus penalty on Indian items seems harsh, a better look exhibits that India isn't considerably worse off than international locations that did signal offers with the US,” GTRI Founder Ajay Srivastava mentioned.
He added that India didn't stroll away from the deal and it negotiated in good religion however refused to cross its purple traces significantly on agriculture, the place over 700 million livelihoods are at stake.
Trump's justification for India's tariffs, commerce limitations, and ties with Russia doesn't stand as much as scrutiny, he mentioned, including that India's tariffs are WTO-compliant, non-tariff limitations are frequent globally, and discounted Russian oil has helped India handle inflation throughout world volatility. “India isn't alone; over 90 international locations face comparable US strain. A deal should still emerge, however solely on truthful phrases. For now, India's principled stand has averted the entice of a one-sided deal — and that is a hit,” he added.
