From the day of his visit to India to the time of his return to the US, President Donald Trump has repeatedly expressed displeasure over the high customs duty imposed on American products. Along with this, he also talked openly with Indian parties about this, but the fact is that he has not got any solid assurance from India that the duty on American products can be cut. India assured to reduce the growing trade deficit between the two countries but there was no promise to reduce the customs duty for this. Rather, it was said to bridge the current $ 24 billion trade deficit by increasing energy imports from the US.
President Trump had changed his mood slightly before returning to the US on the second day of the visit, as there was no concrete signal from India to reduce tariffs. With this, before coming to India, he said that we are going to make a very big agreement. While Trump spoke at a press conference on Tuesday evening that he would not have a trade agreement by the end of this year, he was not confident about it. He said, "India imposes the highest tariffs on American products in the world." At the same time, we have been able to reduce the trade deficit with India from $ 30 billion to $ 24, but this should not happen. We are looking forward to a better deal with India. It should happen by the end of the year and if it doesn't happen then we will do something good. "Similarly, when we talk about the late-night joint statement by the two countries, an atmosphere was created about the kind of trade agreement. There is no mention of this.
In it, stating long-term stability in the business and investment sector, it states that, "We have agreed to end the ongoing negotiations soon and the ongoing negotiations on the first phase of the overall bilateral business agreement will also be soon." It is expected to end. ”In this way there seems to be limited business agreement at the moment. According to Indian parties, there is nothing that India is going to reduce the duty on some American products from its side. Along with this, both sides are talking in view of their respective interests. With this, the import duty on some agricultural products imported from the US can be reduced but the deal will be done only if some Indian products get similar incentives in the US market. As far as the reduction of customs duty on American motorcycles is concerned, it has been cut two years ago. Right now there is no such idea at the moment.
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