Washington DCA few moments ago
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US President Donald Trump announced on Monday that from August 1, goods coming from Japan and South Korea will be charged 25%. According to Reuters, Trump also said that he is sending tariff letters to leaders of more than 12 countries including India on Monday.
Trump said on his social media platform Truth Social that he has sent letters to leaders of several countries including India. In these letters, 25% tariffs on Japan and South Korea goods have been said.
India can also get one such letter today, which can mention 26% tariff (16% new and 10% existing). There is talk of bilateral trade agreement between India and the US. If this agreement is not reached before 9 July, then 26% tariff may apply to India.
Indo-US interacting in Washington
On April 2, Trump imposed reciperoke (such as Ko Tit) tariff on countries around the world, later postponed for 90 days. Its deadline ends on 9 July 2025. In such a situation, this deal is very important.
Teams from India and America are constantly talking in Washington. Media reports say that most parts of the deal have been agreed, and may be announced on late night or 8 July. Commerce Minister Piyush Goyal has said that India will keep national interests at the top.
What will be the benefit of India and America from this deal?
answer: If it gets a mini trade deal, then:
Benefits for India,
- Textile, medicines, jewelery will get more access to the US market.
- Indian exports will be cheaper by the removal of 26% reciperook tariff, which will increase trade.
- By 2030, India-US bilateral trade can reach $ 500 billion.
Benefits for America,
- Products like Pekan Nuts, Blueberry, and Automobiles will get a chance to sell on low tariffs in India.
- Business relations with India will be strengthened, which is important to counter China’s influence in the Asia-Pacific sector.
For both countries: This deal can lay the foundation of big free trade agreement (FTA) in future.
This news is being updated …