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US President Donald Trump had announced to impose tariff on more than 200 countries on 2 April, it also included India.
Trump gives ultimatum to some countries (Source: Internet)
Washington DC: US President Donald Trump has once again made a major statement regarding tariff. Trump said that he is going to send a letter to 10 to 12 countries tonight regarding tariff, which will be in the form of a warning. It will be clearly stated in letter that if these countries do not enter into a trade agreement with America, then heavy tariff will be imposed on them.
According to Trump, these letters will be sent to those countries with whom America has not yet been able to make a trade deal. However, Trump did not disclose which countries this letter will be sent to.
Trump had announced to impose tariff on more than 200 countries on 2 April, it also included India. However, a few days later this decision was postponed for 90 days, the deadline of which is ending on July 9. In such a situation, this letter of Trump is being considered very important in view of this deadline.
Trump said, this letter will include the details of how much tariff will be imposed on which country. According to him, this will be the last chance to make a trade agreement, otherwise the concerned countries will have to pay tariff.
Negotiations are also being made between India and America regarding tariff. Recently there was news that both the countries can reach an agreement within 48 hours, but still there is no consensus on some issues.
America wants India to reduce tariff on agricultural products and dairy products so that American companies can get entry in the Indian market. But India is very cautious about the security of its agricultural sector. India believes that the reduction in tariff can cause huge losses to domestic farmers and dairy sector.
India has made it clear that it will not compromise on its terms under any circumstances. India wants America to reduce its tariff to 10 percent or less, which is currently 26 percent. Along with this, India also wants that the Indian SME sector should get a market in America so that small and medium industries can get a global platform.
Trump said that India is now opening its doors for American trade and reducing tariffs. However, India's Finance Minister Nirmala Sitharaman has made it clear that India will enter into a trade agreement but will not compromise on its interests.
