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The US has said that India will stop buying oil from Russia, only then will there be a trade deal. At the same time, India has proposed to remove some restrictions on imports of genetically modified maize and buy more US defense and energy products to finalize the deal. However, the US team was adamant on stopping buying Russian oil. This information has been given from the Economic Times to sources.
The same, the government said in a notification on Friday, September 26, ‘Indian delegation in the leadership of Commerce Minister Piyush Goyal held positive talks with the US government on different aspects of the deal. Both sides shared considering the possible roadmap of the deal and decided to continue the talks to complete the trade agreement as soon as possible.
The meetings held with American businessmen and investors of Indian delegation received positive response. Business leaders expressed confidence in India’s growth story and expressed their desire to intensify their business activity in India.
Earlier on 16 September, the conversation was also held
Earlier on September 16, there was a conversation between the two countries’ delegation for about 7 hours on the trade deal in New Delhi. Then the government issued a statement saying that there was a positive discussion on many aspects of the trade agreement in the meeting.
The goal of the two countries is to make an agreement that is beneficial for both and strengthens bilateral trade. On September 16, the US team reached India to talk on the trade deal for the first time after Trump’s 50% tariff was imposed.
America also imposed 100% tariff on Indian medicines
Today, President Donald Trump has announced a 100% tariff on branded or patented medicine. This tariff will be applicable from 1 October 2025. The US President has already imposed 50% tariffs due to buying oil from Russia on India. This tariff has come into effect from 27 August. Exports of Indian products like clothes, gems-jewelery, furniture, sea food have become expensive. However, the drugs were excluded from this tariff.
Export of 85 thousand crores affected by tariff
In fact, the US has imposed 25% counter -tariff and 25% tariff in the form of penalty due to buying oil from Russia due to more tariffs on India, due to which India’s export of about 85 thousand crores is being badly affected. This led to bitterness in the relationship between the two countries, although it was softened after some of the recent statements by President Donald Trump.
Trump had said- Modi will talk on good friends, trade barrier
Amidst the Indo-US trade deal negotiation and tariff tension, US President Donald Trump said on September 10 that he was confident that the ongoing talks between Washington and Delhi would soon reach a better result. Trump said that he will talk to Prime Minister Modi in the coming weeks to finish all kinds of trade barriers.
Trump wrote in a post on Truth Social, ‘I am happy to say that talks are going on between India and America to remove the trade barrier. In the coming weeks, I am eager to talk to my very good friends, PM Modi. I am confident that there will be no problem for both great countries to reach a successful result.
Modi had said- Indo-US Natural Partner
About 5 hours after this post of Trump, PM Modi also wrote in an X post, ‘India and America are good friends and natural partners. I am confident that our trade negotiation will make a way to open the unlimited possibilities of Indo-US partnership.
Our teams are working hard to complete these discussions as soon as possible. I am also waiting to talk to President Trump. Together we will ensure a better and rich future for the people of both countries. ‘
Trump had said- America lost India
Earlier on Friday, September 5, at the SCO Summit, PM Modi, Russian President Putin and Chinese President Jinping together said that Russia and India have now gone to China. He wrote on Truth Social- ‘It seems that we have lost India and Russia to China. Hopefully their future will be good.
CEA had said- if the tariff is pulled, there is a big threat to India
Recently, in an interview to Bloomberg TV, Nageswaran said that I hope this extra tariff will not last long. In this financial year, the time the time remains this tariff, it can be affected from 0.5% to 0.6% on GDP. But if this tariff is pulled by next year, the effect will be bigger, which can pose a big threat to India.
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Read these news related to tariffs and trade deals too …
1. India’s export to America fell for the third consecutive month
2. India said- will finalize trade deal from America soon
3. Trump said-Modi good friends, will talk to him on trade barrier
4. Talking continuously on America-India Free Trade Agreement
5. Expected to be a trade deal between India and America by November
6. Piyush Goyal said-Deal from America only when both of them benefited
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