India US TARIFF WAR: US Commerce Secretary Howard Lutenik has made a controversial statement amid tariff controversy. He said that both should open their markets, as well as stop the action that damages American interests and respond.
India US TARIFF WAR: Despite several rounds of talks, India and America have not been able to overcome their significant differences. Meanwhile, US Commerce Secretary Howard Lutenik has given a controversial statement. He said that America needs to improve the policies of India and Brazil. However, earlier US President Donald Trump had imposed a 50 percent tariff on India, including 25 percent penalty tariff.
“India and Brazil should open their markets”
Lutenik said in an interview to an American channel that India and Brazil should open their markets and do not take any action that damages American interests. On the matter of buying oil from Russia, he said that India considers its energy purchase as a national interest. He also said that it is necessary to improve the policies of countries like India, Brazil and Taiwan. He said that this is necessary because business relations between America and India are entangled.
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25 percent penalty tariff was imposed
America has been the largest trading partner of India for a long time, but in some areas, the agreement has not been reached due to differences. Whether or not the conversation between Abharat-America will move again or not, it remains to be seen. Recently Foreign Minister S.K. Jaishankar and Commerce Minister Piyush Goyal visited America. His visit can give a new direction in the relationship between the two countries. Apart from this, S. Jaishankar held a meeting with US Secretary of State Marco Rubio and discussed several important issues. Let us know that US President Donald Trump had imposed a total of 50 percent tariff on India due to buying oil from Russia, in which he first imposed 25 percent tariff, later 25 percent penalty tariff was also imposed.