New Delhi, March 29:
Officials from India and the US completed a round of talks on Saturday on the proposed bilateral trade agreement. According to government sources, the talks are moving in a positive direction. The team of US officials in this meeting was led by Assistant US Trade Representative for South and Central Asia Brendan Lynch.
US President Donald Trump described Prime Minister Narendra Modi as a very intelligent person and a good friend. He also said that tariff-related talks between the two countries will yield good results. Earlier too, Donald Trump has been accusing India of imposing high tariffs on American goods. The US has announced retaliatory tariffs on many countries, which may include India as well.
The US has already imposed additional tariffs on China. Apart from this, a 25% tariff has been imposed on steel and aluminium from March 12. A 25% tariff will be imposed on completely built vehicles (CBUS) and auto parts from April 3. Along with this, a 25% tariff has also been announced on countries buying oil from Venezuela, which may affect India’s oil trade. (Agencies)