Jobaaj Stories
At the India Today Conclave, US Secretary of Commerce Howard Lutnick urged India to open its agriculture market to US products. He emphasized that the US is interested in a large trade agreement with India, which includes agriculture, and is open to negotiating quotas or limits to address any concerns.
Lutnick suggested that India’s agriculture market cannot remain closed, and smart trade deals could help both countries. He proposed that India could set quotas or limits to manage the trade in a balanced way.
India’s Response and GTRI Comments
The Global Trade and Research Institute (GTRI) responded to Lutnick's comments, warning that some proposals could benefit the US more than India. GTRI advised India to carefully consider these suggestions and make decisions that protect its economic interests.
Trump Comments on India’s Tariffs
US President Donald Trump also criticized India for its high tariffs on US products. He claimed that India agreed to lower tariffs after being pressured by the US. Trump added that India’s market had been difficult for American businesses but said that India was now willing to reduce tariffs.
Bilateral Trade Agreement
Under the Bilateral Trade Agreement, India is expected to offer tariff reductions on US products in exchange for similar cuts by the US. These tariff changes are set to take effect on April 2.
