Reference News Network, August 8 report - According to the Bloomberg News website on August 7, sources said that Indian officials are considering what trade concessions they can make to the United States after President Trump decided to impose a 50% tariff on Indian goods.
Anonymous sources said that India sees the 21-day window before the full implementation of the new tariffs as an opportunity to continue negotiations with the Trump administration. They also said that at this stage, the Indian government has not planned to retaliate.
These sources said that reaching a potential trade agreement with the United States is one of India's top priorities as it adjusts its response measures. Officials are evaluating whether some concessions can be made, especially in the agricultural and dairy sectors, to meet U.S. demands while minimizing the impact on domestic producers.
One of the sources said that one proposal under discussion involves allowing limited imports of non-human edible genetically modified corn under strict traceability requirements.
The Ministry of Commerce and Industry did not immediately respond to requests for comments.
Trump signed an executive order on June 6 to impose a 25% tariff on Indian products, citing India's continued purchase of Russian oil. This measure was added to the previously announced 25% tariff. The higher tariffs will take effect in three weeks, leaving a narrow window for further negotiations.
Sources said that Indian officials intend to seek diplomatic and trade channels before considering countermeasures. They also said that India's goal is to reach a bilateral agreement that protects India's strategic autonomy.
Sources said that at this stage, the Modi government is not actively considering retaliation. One reason is that India's economic influence is limited compared to China. (Translated by Li Sha)
Original: https://www.toutiao.com/article/7536080334236992042/
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