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“We are still in the final stages,” said Goyal, adding that he said they will release a joint statement once they have finalized the agreement's understanding and completed the technical details.
Goyal made it clear that Indian citizens should feel proud of the agreement and that important economic areas, such as agriculture and the dairy sector, will be safeguarded. The minister stated that Indian Prime Minister Narendra Modi used his good relationship with US President Donald Trump to achieve this agreement, which is considered the best among agreements with other nations in the region.
The day before, Trump stated that he had finalized a trade agreement with Modi, which involved, among other points, lowering tariffs from 25% to 18%.
Meanwhile, as noted by the Hindustan Times, Indian opposition leaders have raised concerns that this would not be a fair deal if India is required to impose 18% tariffs on its imports, while American goods would remain free from such tariffs. There were also concerns about whether India had genuinely pledged to buy $500 billion in American products, as Trump stated, while the current level of US imports from India is around $45 billion annually.
In addition, it is important to note that Indian officials have not indicated that they will stop purchasing oil from Russia, which contradicts what Trump has claimed.
source: hindustantimes.com
Goyal made it clear that Indian citizens should feel proud of the agreement and that important economic areas, such as agriculture and the dairy sector, will be safeguarded. The minister stated that Indian Prime Minister Narendra Modi used his good relationship with US President Donald Trump to achieve this agreement, which is considered the best among agreements with other nations in the region.
The day before, Trump stated that he had finalized a trade agreement with Modi, which involved, among other points, lowering tariffs from 25% to 18%.
Meanwhile, as noted by the Hindustan Times, Indian opposition leaders have raised concerns that this would not be a fair deal if India is required to impose 18% tariffs on its imports, while American goods would remain free from such tariffs. There were also concerns about whether India had genuinely pledged to buy $500 billion in American products, as Trump stated, while the current level of US imports from India is around $45 billion annually.
In addition, it is important to note that Indian officials have not indicated that they will stop purchasing oil from Russia, which contradicts what Trump has claimed.
source: hindustantimes.com
