With Donald Trump pausing tariffs, India seeks to seal trade deal with US: Report
By : Sandhya
India wants to move swiftly on a trade deal with the United States after US President Donald Trump halted reciprocal tariffs for a number of nations, according to a government official who was not identified by news agency Reuters on Thursday. In order to achieve $500 billion in two-way commerce by 2030, New Delhi and Washington decided in February to begin work on the first phase of a trade agreement that would be finalized late this year.
According to the person, "India is one of the first nations to start talks over a deal with the United States and to have jointly agreed to a deadline to conclude it," Reuters reported. At an event earlier this week in New Delhi, Union Commerce Minister Piyush Goyal stated that China's unfair trade practices had harmed US and Indian manufacturing over the years.
According to the official, India will increase its inspection of imports to identify any possible dumping of goods, especially those coming from China. After enacting tariffs that caused the most severe market volatility since the beginning of the Covid-19 outbreak, Donald Trump temporarily reduced charges on trading partners, notably India, on Wednesday.