An agreement has been reached on the long pending trade deal between America and India. Along with this, America has also reduced the reciprocal tariff imposed on India to 18 percent. Which was announced by US President Donald Trump through a social media post. He made his move public after talking to PM Modi. Now the main opposition party Congress seems to be the attacker on this entire incident.
Congress on Tuesday (03 February) sought complete details of the India-US trade agreement. Along with this, questions were raised on many important aspects like opening up the agricultural sector, reducing tariffs to ‘zero’ and banning the purchase of Russian oil as per Trump’s claims.
In a post on Twitter, Congress first questioned the way the deal was announced, then delved into the details shared by Donald Trump. The party said reducing tariff and non-tariff barriers against the US to ‘zero’ would have an ‘impact’ on India and also questioned how opening up the agriculture sector would ensure ‘security of farmers’.
Congress raised questions on trade deal
Congress wrote in its X post- ‘Like the ceasefire, the trade agreement was also announced by US President Trump. It has been said that this trade agreement is being done ‘at the request of Modi’. Trump says India will take steps to reduce tariff and non-tariff barriers against the US to ‘zero’. It seems that India has agreed to completely open its market to America. This will affect Indian industry, traders and farmers.
Demand full details on trade agreement
Congress further said in the post, ‘The statement also talks about opening up the agriculture sector to America. After all, what is this agreement? How have the safety and interests of our farmers been ensured? It has also been said that Modi government will not buy oil from Russia, but will buy it from America and Venezuela. Has Modi government agreed to this condition? Apart from this, there is talk of buying more goods from America. If so, what happened to ‘Make in India’? India has the right to know the details of the trade agreement. Modi government should share all the details with the Parliament and the entire country in confidence.
America reduced retaliatory tariff to 18 percent
On Monday night, US President Donald Trump reduced the retaliatory tariff on India from 25 percent to 18 percent. After a phone conversation with Prime Minister Narendra Modi, President Trump also announced an agreement on a trade agreement between the two countries. The additional 25 percent US tariff imposed on India for purchasing oil from Russia will also be removed. In such a situation, now the effective tariff is going to be 18 percent.
Also read: India-US Trade Deal: Lower tariff on India compared to neighboring countries; Know its meaning after America trade deal
India will buy goods worth 500 billion dollars
President Donald Trump said in his social media post that India has agreed to stop buying Russian oil and buy more oil from America and Venezuela. Trump said that Prime Minister Modi has made further commitment to purchase more than $500 billion of American energy, technology, agriculture, coal and many other products. Due to which our wonderful relations with India will become stronger in future.
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