New Delhi : Union Commerce Minister Piyush Goyal on Wednesday briefed the Parliament on the recently announced and much-awaited trade deal with the US, which only culminated amid tariff tension and after months of back-and-forth. Goyal said it took a year for the two sides to come to a consensus, making sure that neither of their important sectors were ignored.
Keeping the important interests of both sides in mind, it is natural that both sides would want to safeguard their respective important and sensitive areas and ensure the best possible results. During the discussions, the Indian side was successful in protecting the interests of its sensitive sectors, especially agriculture and dairy. US President Donald Trump announced a trade deal between the two nations and said he would axe reciprocal tariffs from 25 per cent to 18 per cent.
What quickly drew attention was the mention of India committing to buy more than USD 500 billion products, including agricultural ones. Given India is a global player in multiple key areas of agricultural production, the commitment triggered debate and drew sharp digs from the Opposition camp. Congress MP and LoP Rahul Gandhi accused PM Modi of selling the nation. The Indian side is yet to comment on the ‘buy American’ USD 500 billion commitment mentioned by Trump, which has only raised questions over its scale, timing and credibility.
They stressed that strategic energy buys, including crude oil from Venezuela, could be a highlight under the landmark agreement. The sources further said that New Delhi will maintain protections on sensitive sectors even as it pursues a wider market access under the deal. Trump had imposed the highest tariffs of 50 per cent on India, besides Brazil, which included a penalty for buying Russian oil. They alleged that India’s imports were aiding Moscow in its war with Ukraine.
Read Also : Ravneet Bittu Labels Rahul Gandhi as “Desh Ke Dushman” Outside Parliament Protest
