The Minister of Trade and Industry of the Federation, Joach Joyal in Luke Sebha, said that India will take all the steps necessary to protect national interests. He was referring to the threat of US President Donald Trump to impose a 25 percent tariff on Indian goods on August 1, despite the meeting between the two sides on August 25 to discuss the deal.
He said, “India will take all possible interests to protect our interests,” adding that India’s trade has increased significantly in the past five years. “India has established trade relations with Australia, the United Kingdom and many other countries,” he said. Joyl said international agencies view India as a bright spot in the global economy.
He said that India and the United States decided to talk about a mutual competitive deal by the fall of this year after Washington imposed a 26 percent tariff on India, which was arrested later until August 1. The first round of the talks was held on March 29 for the early installation of the Bilateral Trade Convention.
He said that India and the United States held four other rounds of talks after that, regardless of many virtual meetings.
Separately, government sources told Today TV that India will not decrease against the United States to President Donald Trump. “Whatever we do, we will do on the negotiating table. When we conducted nuclear tests, many sanctions were placed on us. Then we were a small economy. Today, we are such a self -sufficient economic power, why should we feel anxious now?” A source said.
Joyl’s statement comes after Trump called the Indian economy “Mit”. “I don’t care what India is doing with Russia. They can transfer their dead economies together, for everything I care about. We have done very little with India, and very high tariffs, among the highest in the world,” he said.
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