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21 US MPs on Wednesday wrote a letter to President Donald Trump demanding to improve relations with India. This letter was sent together by MPs Deborah Ross and Ro Khanna on 8 October.
He said that imposing heavy tariffs on goods coming from India is harming America’s friendship with the world’s largest democracy. Both countries are facing problems due to this.
Lawmakers warned that if tariffs continued to increase, American people would have to buy more expensive goods and companies would suffer losses. This may threaten the friendship between India and America. He also said that this move by Trump can bring India closer to China and Russia.
India-America’s important trading friend
It was said in the letter that India is an important trading friend of America. American companies take things like electronics, medicines and energy from India. By investing in India, American companies benefit from the huge market there. Also, India’s investment in America is increasing jobs here.
The lawmakers said imposing 50% tariffs on India is harmful to both Indian companies and the American people. Due to this, American companies are facing difficulty in manufacturing and selling goods.
MP said- friendship between India and America is special
The lawmakers stressed that both America and India are democracies and their friendship is special. He appealed to Trump to strengthen relations with India, as this friendship is very important for strategy, trade and respect.
MPs said-
India is a member of the Quad alliance and helps maintain peace in the Indo-Pacific region. He is a strong ally of America against China.
Trump imposed 25% extra tariff on Russian oil
Trump has imposed a total tariff of 50% on India. Out of this, 25% extra tariff has been imposed due to purchase of Russian oil. Trump says that India is buying Russian oil, which is why Putin is being helped in continuing the Ukraine war.
According to the report of Global Trade Research Initiative (GTRI), this 50% tariff could affect India’s exports worth about ₹5.4 lakh crore.
With 50% tariff, Indian products like clothes, gems-jewellery, furniture, sea food sold in America will become expensive. This can reduce their demand by 70%.
What is the status of the trade deal between India and America?
India and America have been working on a trade deal for a long time. The American team was scheduled to arrive for the sixth round of talks on August 25, but it was later postponed.
Indian officials are hoping to reach a major agreement by September or October, but some issues are still lacking agreement, such as the agriculture sector. India is not ready to open genetically modified crops and dairy market to America.
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