‘In line with India’s tariff WTO, the government should say this to the US’, statement think tank GTRI

New Delhi| Economic think tank GTRI said India’s import duties are in line with global trade rules and the government should tell the US administration. It also said that negotiating a comprehensive free trade agreement with the US presents many challenges. GTRI (Global Trade Research Initiative) has also said that negotiating a free trade agreement with the US can bring many challenges for India.

Trump is ignoring WTO rules
Ajay Srivastava, founder of Global Trade Research Initiative, says that ‘the tariffs imposed by India are WTO compliant. These were approved by all countries, including the US, in the year 1995 He said that India needs to clarify its stand before America regarding the allegations being made by America against India regarding tariffs. The WTO Forum, with 166 members, is the only international body that decides the rules of trade between member countries. When WTO was established in the year 1995, developed nations had agreed to give high tariffs to developing countries. “Trump, when talking about India’s high tariffs, easily forgets WTO rules”, he said G.T.R.I. Said that to deal with the threat of imposition of higher tariffs by the US, India’s best option is to offer zero tariffs to the US on most industrial goods or accept new US tariffs without any retaliation.

India may face problems due to free trade agreement with America
The think tank said that in the free trade agreement, the US can put pressure on India to open government procurement to American firms, reduce agricultural subsidies, weaken patent protection and lift restrictions on data flow. India has been opposing these demands for decades. It is noteworthy that US President Donald Trump has many times accused India of charging high tariffs and he has also called India a country that misuses tariffs. Let us tell you that tariff is an import duty, which is imposed by the government on foreign goods.