After nearly a year of negotiations, India and the United States have finally reached a trade agreement that US Chamber of Commerce President and CEO Suzanne P. This was welcomed by Clarke, who said the development would benefit companies in both countries
Suzanne Clark, president and CEO of the US Chamber of Commerce, visited India last year to meet with Indian officials and businesses. (File Photo/Bloomberg)He said the chamber looked forward to reviewing the details of the deal and was hopeful the deal announcement was the first step toward a “comprehensive trade agreement.”
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“We congratulate the US and Indian governments for announcing reductions in tariffs and non-tariff barriers that will benefit American and Indian companies and workers in both great countries. We applaud the efforts of President Trump and Prime Minister Modi and their officials, including Ambassadors Quatra and Gore,” Clark said.
Also read: India now tariffs at 18%: US trade deal sealed after year of negotiations.
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“We are hopeful that this is the first step toward a broader trade agreement that will unlock greater private sector cooperation, and we look forward to reviewing the details of the agreement.”
Clarke, who visited India last year for meetings with Indian officials and businessmen, said the chamber would partner with the governments of both countries to implement trade agreements.
“The Chamber, our US-India Business Council, and our members are strong champions of this effort, and we look forward to partnering with both governments to implement today’s announcement,” he said.
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Also read: $500 billion deal, not Russian oil, 18% tariff: Inside India-US trade deal
India-US trade agreementUS President Donald Trump announced the trade deal in a post on Truth Social and said India’s exports to the US would now face a much lower tariff of 18 percent and claimed India had agreed to stop buying oil from Russia, which he said would help end the war in Ukraine. Trump also demanded that India buy more than $500 billion worth of US goods and reduce tariff and non-tariff barriers to zero.
While Prime Minister Modi confirmed the reduction of tariffs on Indian goods, he shied away from mentioning whether India would stop buying Russian oil in his social media posts. Prime Minister Modi thanked Trump on behalf of 1.4 billion Indians, saying, “When the two largest economies and the world’s largest democracies work together, it benefits our people and opens up enormous opportunities for mutually beneficial cooperation”.
