New Delhi: Days after President Donald Trump announced reciprocal tariffs on its trading partners, India on Friday said it is looking at deepening trade ties with the US including by reducing tariff and non-tariff barriers through a bilateral trade deal.
In line with his “America First” policy, Trump this week announced reciprocal tariffs from April 2 on numerous trading partners and nations that impose higher levies on imports from the US.
In its first reaction, New Delhi indicated that it expects an amicable resolution to the issue.
During Prime Minister Narendra Modi’s visit to the US last month, both sides announced plans to negotiate a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA), External Affairs Ministry spokesperson Randhir Jaiswal said.
Commerce Minister Piyush Goyal was in the US and met his counterparts and the two governments are in the process of advancing discussions on a multi-sector bilateral trade pact, he said.
“Our objective through the BTA is to strengthen and deepen India-US two-way trade across the goods and services sector, increase market access, reduce tariff and non-tariff barriers, and deepen supply chain integration between the two countries,” he added.
PTI
