logo
India finds out about decisions important to it from White House: Cong's dig on trade deal

India finds out about decisions important to it from White House: Cong's dig on trade deal

Indian Express4 hours ago

With US President Donald Trump announcing that a 'very big' trade deal is on the cards with India, the Congress on Friday took a swipe at the government and said it seems that India gets to know decisions of great importance to it from the White House.
The opposition party's swipe at the government came after President Donald Trump said a 'very big' trade deal is on the cards with India, hinting at significant progress in the negotiation process of a long-awaited bilateral trade agreement between the two countries.
'We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India,' said Trump while speaking at the 'Big Beautiful Bill' event at the White House.
Congress general secretary in-charge communications Jairam Ramesh said that 'after repeating 16 times' that he used a trade deal as an instrument to bring about a ceasefire between India & Pakistan, Trump has now announced that the India-US trade agreement is going to be signed in the next few days.
'He calls it a 'very big deal.' It better be – given that it led to the abrupt end of Operation Sindoor,' Ramesh said on X.
'As is now becoming evident, India has to get to know decisions of great importance to it from the White House in Washington DC,' the Congress leader said.
Trump's remarks come as an Indian team headed by chief negotiator Rajesh Agarwal on Thursday arrived in Washington for the next round of trade talks with the US.
Both countries are engaged in negotiations for an interim trade deal and are trying to finalise the pact before July 9.
The high tariffs announced by the US on April 2 were suspended by the Trump administration till July 9.
The agriculture and dairy sectors are difficult and challenging areas for India to give duty concessions to the US. India has not opened up dairy in any of its free trade pacts signed so far.
The US wants duty concessions on certain industrial goods, automobiles – especially electric vehicles, wines, petrochemical products, dairy, and agricultural items like apples, tree nuts, and genetically modified crops.
India is seeking duty concessions for labour-intensive sectors like textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas in the proposed trade pact.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

India-US trade deal: Here's what Washington DC wants from New Delhi and what we know so far
India-US trade deal: Here's what Washington DC wants from New Delhi and what we know so far

Mint

time31 minutes ago

  • Mint

India-US trade deal: Here's what Washington DC wants from New Delhi and what we know so far

US President Donald Trump on Thursday said that a 'very big trade deal' with India is on the cards as negotiators from New Delhi reached Washington DC, where America has reportedly demanded a few tariff cuts that India is not ready to agree with. Chief Negotiator Rajesh Aggarwal is leading a delegation from India to the US as the team works with officials from the Office of the United States Trade Representative (USTR), navigating through a July 9 deadline to secure an interim deal before temporary tariff protections expire. However, roadblocks in the conversations have been delaying progress in securing a bilateral trade agreement during the high-stakes negotiations, reportedly due to some demands from the US. Here's what we know so far. According to a report by ANI, several contentious issues have surfaced during the trade negotiation conversations between the US and India. The US is pressuring India into lowering duties on American agricultural and dairy products and to provide market access for genetically modified (GM) crops. However, India has resisted these demands firmly, saying that it would impact domestic food safety, public health and leave millions of farmers unprotected. The Indian delegation has also reportedly resisted an offer of broad-based access to the US agricultural and dairy sectors, which can be politically and economically sensitive. As per a report by Reuters, the Indian side wants to push for a rollback on the now-paused 26 per cent tariff that the US imposed on New Delhi, which is set to take effect if a deal is not reached by July 9. Negotiators are also demanding concessions on existing US tariffs on steel and auto parts, which American negotiators have not yet agreed to, according to Indian government sources quoted by Reuters. 'The US side first wants India to commit to deeper import tariff cuts on farm goods like soybeans and corn, cars and alcoholic beverages along with easing of non-tariff barriers,' an Indian official was quoted as saying by Reuters. This has led to a disagreement between India and America. However, Indian officials have ensured that protecting the country's interests will be of supreme importance during the trade talks. "Protecting India's interests will be supreme in India-US BTA talks," an Indian official close to the negotiations was quoted as saying by ANI. Despite these challenges, both sides remain committed to reaching an interim agreement before the deadline.

US-China trade deal finalised, focus remains on rare earth exports, Washington to ‘take down countermeasures'
US-China trade deal finalised, focus remains on rare earth exports, Washington to ‘take down countermeasures'

Mint

time32 minutes ago

  • Mint

US-China trade deal finalised, focus remains on rare earth exports, Washington to ‘take down countermeasures'

The US and China finalised a trade agreement that was initially reached last month in Geneva, according to a report by Bloomberg News, citing US Commerce Secretary Howard Lutnick. He also noted that the White House has upcoming plans to negotiate agreements with ten key trading partners. The deal was signed two days ago, formalising the terms agreed upon during the trade talks, including China's commitment to supply rare earth exports. In an interview with Bloomberg News, Lutnick said,'They're going to deliver rare earths to us,' and once they do that, 'we'll take down our countermeasures." The China agreement outlines the terms discussed during trade negotiations between Beijing and Washington this year, which was an important milestone after accusations of breaching previous agreements. However, its success still depends on future actions by both countries, especially China's export of rare earth elements. Lutnick also informed that the US President Donald Trump has planned to finalise a set of trade deals in the coming two weeks ahead of the reciprocal tariff deadline on July 9. 'We're going to do top 10 deals, put them in the right category, and then these other countries will fit behind,' he said. However, Lutnick did not give any information on the countries associated with the latest trade deals, though Trump previously hinted at an agreement with India. Rajesh Agarwal-led team of Indian officials are scheduled to meet the Washington officials in the next two days this week to reach a consensus, the report said. Trump has decided to send 'letters' to the trading partners highlighting the terms if an agreement is not reached before the deadline. Lutnick mentioned that countries will be categorised into 'proper buckets' on July 9. Trump might also extend deadlines to facilitate talks. 'Those who have deals will have deals, and everybody else that is negotiating with us, they'll get a response from us and then they'll go into that package,' Lutnick said. 'If people want to come back and negotiate further, they're entitled to, but that tariff rate will be set and off we'll go," he added. On April 2, Trump announced reciprocal tariffs on trading countries but paused it later for 90 days to permit negotiations. The China accord Lutnick described is far from a comprehensive trade deal that addresses thorny questions about fentanyl trafficking and American exporters' access to Chinese markets. Following an initial negotiation round in Geneva that led to tariff reductions by both nations, the US and China accused each other of breaching their agreement. After further discussions in London this month, negotiators from both countries stated they had reached a mutual understanding, while approval from Trump and President Xi Jinping is still pending.

‘One way ticket out of NYC': Rapper 50 Cent's offer to Zohran Mamdani over proposal to tax rich
‘One way ticket out of NYC': Rapper 50 Cent's offer to Zohran Mamdani over proposal to tax rich

Mint

time32 minutes ago

  • Mint

‘One way ticket out of NYC': Rapper 50 Cent's offer to Zohran Mamdani over proposal to tax rich

American rapper 50 Cent has sparked controversy with his recent post on Instagram slamming the Indian-origin politician Zohran Mamdani's proposed tax reforms. The hip-hop star offered to buy Mamdani a 'first-class one-way ticket' out of New York City after the newly nominated Democratic mayoral candidate vowed to raise taxes on the wealthy. Mamdani, a democratic socialist and son of Indian filmmaker Mira Nair, recently clinched the Democratic nomination for New York City mayor. His campaign focused on housing affordability, rent freezes in stabilised units, city-run grocery stores, and free public transport, all to be funded through increased taxes on New York's top earners. In an Instagram post, 50 Cent, whose real name is Curtis Jackson, shared a clip of Mamdani explaining his tax proposal and wrote, 'Where did he come from? Whose friend is this? I'm not feeling this plan no.' The rapper also added, 'I'll give him $258,750 and a first class one-way ticket away from NY. I'm telling Trump what he said too!' The rapper's outburst came in response to Mamdani's comments on The Breakfast Club podcast earlier this month, where he suggested a flat 2% tax hike for those earning over $1 million annually. 'I know if 50 Cent is listening, he's not going to be happy about this,' Mamdani had said, anticipating pushback. Right-wing social media users, including Trump supporters, quickly joined the fray, mocking Mamdani and cheering 50 Cent's remarks. MAGA-aligned accounts told Mamdani 'good riddance,' while conservative influencer Nick Sortor reacted with 'LMAO.' Despite the backlash, Mamdani stood by his plan during a CNN interview, citing data from the Fiscal Policy Institute which suggested that high earners were less likely to leave New York than lower-income groups, and often moved to other high-tax states like New Jersey and California. Mamdani, who recently defeated former Governor Andrew Cuomo in a surprise political upset, said the issue was less about tax burdens and more about quality of life in the city.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store