Days after announcing a trade deal between India and the US, the Trump administration said the exact details of the deal were still being “paperworked”. Speaking to CNBC on Tuesday, the US Trade Representative said Jamieson Greer Said the deal has details and specifics but is still being finalised.
Speaking to CNBC on Tuesday, US Trade Representative Jamieson Greer said the details and specifics of the deal are still being finalized. (Bloomberg)”We will finalize the paperwork on it, but we know the specifics, we know the details,” Greer said, adding that India maintains some protections around agricultural products.
Earlier today, in a press conference, Union Commerce Minister Dr Piyush Goyal The trade deal between India and the US has been welcomed, saying it is in the final stages.
“We will soon issue a joint statement by both countries with details, which we will soon sign between the US and India. And as soon as the final understanding of the agreement is signed, and as soon as the joint statement is finalized, the technical processes are completed, the full details will be shared.” Goyal said.
India-US trade agreement announcedUS President Donald Trump took to Truth Social on Monday night to announce that Washington and New Delhi had finalized a trade deal, which will also reduce tariffs on India from 50 percent to 18 percent.
“When two large economies and the world’s largest democracies work together, it benefits our people and opens up enormous opportunities for mutually beneficial cooperation,” Modi said, confirming the deal with the US.
While the details of the trade deal are yet to be shared, according to Trump’s social media posts, India has agreed to stop its purchases of Russian oil, triggering an additional 25 percent tariff on India.
However, in response to the announcement of the agreement, The Kremlin said it had not yet received an official word About this so-called stop buying from India.
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In his Truth Social post, Trump added that the tariffs went beyond cuts. He described it as a finalized trade deal under which India would reduce its tariff and non-tariff barriers against US goods to zero and commit to buying more than $500 billion worth of American energy, technology, agricultural products, coal and other goods.
