After the US-China trade deal, India realized something was wrong: why is India now the country with the highest tariff rate imposed by the United States!?
After the US and China reached a one-year trade war truce agreement, Indian media and netizens could not hold back anymore because they suddenly found out that India has now become one of the countries with the highest tariff rates imposed by the United States (the other is Brazil).
Regarding the unresolved US-India trade negotiations, on the 29th, Trump's latest statement was that both sides are "about to reach an agreement," and he expressed "great respect" for Indian Prime Minister Modi.
Subsequently, the Indian Foreign Ministry also responded that the US and India are currently in the final stage of trade agreement negotiations.
Currently, India faces a 50% tariff rate from the United States, of which 25% is the so-called "reciprocal tariffs" imposed by Trump, and the remaining 25% is the "punitive tariffs" imposed due to India's purchase of Russian oil.
According to The Times of India, the proposed US-India trade agreement would reduce the US tariff on India from 50% to 15%; in exchange, India must cut down its import of Russian oil and increase its purchases of American energy, agricultural products, and military equipment.
From recent media reports, India has indeed reduced its imports of Russian oil, but it is still unclear whether Modi has agreed to allow American agricultural products into the Indian market - this is the biggest issue of contention in the bilateral negotiations.
Nevertheless, on the 30th, the Indian newspaper Economic Times still expressed optimism, stating that India has the ability to "negotiate from a position of strength" with the United States.
However, there is a small problem: although India claims to be the first country to negotiate with the United States, so far it has not even been able to conclude a temporary agreement.
Original: www.toutiao.com/article/1847472567982403/
Statement: This article represents the views of the author.