BTA: Negotiations on India-US trade agreement speed up, US Finance Minister said – it is easy to reach an agreement with India

New Delhi| US Finance Minister Scott Besant has said that the trade agreement with India is almost complete. He said that talks with India are going well and it is easier to compromise with India than other countries because the tariffs here are clear and unambiguous. The US Finance Minister said this during a press briefing at the White House. In a TV interview on Monday, he had told that India can be one of the first countries with which America can make a trade agreement, so that mutual tariffs can be avoided.

Recently the US Vice President was on a visit to India
US Vice President JD Vance was on a visit to India last week and met Prime Minister Narendra Modi. During this period, good progress was made on the ‘Bilateral Trade Agreement’ between the two countries. In a statement issued by the Vice President’s Office, it was said that now both the countries have also decided on a roadmap for talks. According to the statement, this agreement will help in increasing employment and business in both the countries. Both America and India are linking it to their respective periods of development – Amrit Kaal and Golden Age.

What is India-US trade agreement?
This will be a new and modern trade agreement aimed at improving the well-being of the people of both countries, increasing jobs, and strengthening supply chains. From the Indian side, this conversation is being led by Rajesh Aggarwal, Additional Secretary, Commerce Department. Face-to-face talks between officials of the two countries began in Washington last week.

Why does America want a compromise?
America says that this agreement will provide new markets to American goods in India and farmers, workers and entrepreneurs of both the countries will benefit. The U.S. had already imposed tariffs on several countries on April 2, but suspended these tariffs for 90 days on April 9 (except China and Hong Kong). However, a base charge of 10% and a 25% charge on steel, aluminum and auto parts are still in force.

What is India’s reaction?
India’s Commerce Secretary Sunil Barthwal had said on 15 April that India wanted to end this dialogue as soon as possible so that trade relations could be strengthened.