New Delhi, 31 July (PTI), former Chief Economist of the World Bank Kaushik Basu said on Thursday that US economic policy towards India was unfortunate and noted that President Donald Trump’s hard attitude against Nový Deli seems incomprehensible.
US President Donald Trump announced on Wednesday from 1 August 25 % tariff on Indian goods, in the middle of hints of stalemates in the ongoing bilateral business negotiations between the two countries.
“American economic policy towards India has turned unhappily,” Basa PTI said.
He also said that and at the same time claim that the US has a large business deficit with India, the US announced a hefty tariff on Indian imports.
“But the US business deficit with India is only $ 41 billion, nowhere near China’s deficit ($ 270 billion) or even small countries like Vietnam ($ 113 billion),” Basu said.
He pointed out that President Trump also described India as a “great rapist”.
“This harsh attitude against India seems incomprehensible, but it is a natural outcome of India, which has become an unquestionable supporter of Donald Trump,” Basu said.
According to him, the US is now taking India for granted as never before. India was known for its independent voice that was not subordinate to any other country.
Basu, currently professor of economics at the Cornell University, explained that Indian agriculture and dairy were an important goal of American politics.
“If India hoshes the requirements and makes an agreement in accordance with the US, it will have a negative impact on the Indian farmers and the agricultural sector,” he said.
Given that the Indian agricultural sector is already suffering, with the recent increase in the excess work of the bass stated that it hopes that both the United States and India will prove sensitivity to the situation.
Trump, announcing the tariff, said the Indian high tariffs, his orders “the vast majority” of military equipment and energy from Russia, as well as “unpleasant non -monetary trade barriers”.
From August 1, India will apply “a 25 % PLUS tariff,” he said, adding “We have a huge business deficit with India”.
However, the US President described India as a “friend” in social media.
“While India is our friend, over the years we have done relatively few shops with them, because their tariffs are too high, among the highest in the world, and have the most strenuous and unpleasant trade barriers,” Trump said.
They have always bought the vast majority of their military equipment from Russia and are the largest Russian buyer of energy along with China, at a time when everyone wants Russia to stop killing in Ukraine.
“All things that are not good! India will therefore pay a 25 % plus punishment for the above from August 1,” the US President said.
There is no immediate response from India to Trump’s announcement.
The US team is scheduled to visit India next month for the next round of negotiations on the proposed bilateral trade agreement.
India and American teams closed the fifth round of interviews on the agreement last week in Washington.
The main negotiator and special secretary of India at the Ministry of Commerce Rajesh Agrawal and the representative of the US sales representative for South and Central Asia Brendan Lynch held negotiations.
(Tagstotranslate) American economic policy
