Trade talks continue between India and the United States. Global Trade Research Initiative, a think tank, has shared its point of view regarding these talks. It has suggested that India keep the trade in balance and be cautious, more so in respect of agriculture and GM crops.
Greer, US Trade Representative, claimed that the US obtained the best trade offers from India. In response to this, GTRI opined that India should be cautious in giving concessions on agricultural products and GM crops. GTRI argued that the US should reduce tariffs against Indian exports from 50% to 25% first, if it is seeking a fair partnership.
GTRI shared similar apprehensions regarding Greer's statement. It cited how other countries, such as Malaysia, needed to give in on their core policies just to reach a trade deal with the US. GTRI emphasized that the country needs to focus on the balance and not just go after a deal.
Additionally, a hearing is underway in the US Supreme Court on the powers of former President Trump to impose a tariff. GTRI said India should desist from making assurances in the ongoing negotiations until the court delivers its verdict and that the judgment could become an important turning point for trade negotiations.
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