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India Gazette
6 days ago
- Business
- India Gazette
India should avoid hasty trade deal under US pressure, as it may not survive next US political shift: GTRI
New Delhi [India], July 14 (ANI): India must stay firm and avoid trading away its core sectors, especially agriculture, despite increasing pressure from the United States under President Donald Trump's administration, according to a report by the Global Trade Research Initiative (GTRI). The report warned that entering into a trade agreement under duress could lead to 'irreversible consequences,' particularly when such deals may not survive a change in the US political landscape. 'India should stay the course and avoid trading away core sectors like agriculture. A hasty deal under pressure could have irreversible consequences, especially when such agreements may not survive the next shift in US politics,' the report stated. GTRI noted that Trump's aggressive trade threats are losing credibility. Despite over three months of sustained pressure, only two countries, the United Kingdom and Vietnam, have agreed to the US's 'one-sided trade terms.' Other nations, including Japan, South Korea, the European Union, and Australia, have resisted the demands. These demands are part of what GTRI described as MASALA deals, Mutually Agreed Settlements Achieved through Leveraged Arm-twisting. These agreements typically require other countries to cut tariffs without reciprocal concessions from the US, commit to guaranteed purchases of American goods, and still leave room for Washington to impose additional tariffs in the future, the report said. Due to limited success in pushing these terms, the Trump administration has adopted punitive measures. On July 7, it announced 25 per cent tariffs on imports from Japan and South Korea. Just days later, on July 12, it threatened 30 per cent tariffs on products from the EU and Mexico, even while talks are still ongoing with these nations. The GTRI report urged India to recognize that it is not the only country facing such pressure. The US is currently in trade negotiations with over 20 countries and seeking concessions from more than 90. However, most are pushing back, recognizing that these MASALA deals are politically driven and offer no lasting certainty in international trade. (ANI)
Mint
6 days ago
- Business
- Mint
India should avoid hasty trade deal under US pressure, as it may not survive next US political shift: GTRI
New Delhi [India], July 14 (ANI): India must stay firm and avoid trading away its core sectors, especially agriculture, despite increasing pressure from the United States under President Donald Trump's administration, according to a report by the Global Trade Research Initiative (GTRI). The report warned that entering into a trade agreement under duress could lead to "irreversible consequences," particularly when such deals may not survive a change in the US political landscape. "India should stay the course and avoid trading away core sectors like agriculture. A hasty deal under pressure could have irreversible consequences, especially when such agreements may not survive the next shift in US politics," the report stated. GTRI noted that Trump's aggressive trade threats are losing credibility. Despite over three months of sustained pressure, only two countries, the United Kingdom and Vietnam, have agreed to the US's "one-sided trade terms." Other nations, including Japan, South Korea, the European Union, and Australia, have resisted the demands. These demands are part of what GTRI described as MASALA deals, Mutually Agreed Settlements Achieved through Leveraged Arm-twisting. These agreements typically require other countries to cut tariffs without reciprocal concessions from the US, commit to guaranteed purchases of American goods, and still leave room for Washington to impose additional tariffs in the future, the report said. Due to limited success in pushing these terms, the Trump administration has adopted punitive measures. On July 7, it announced 25 per cent tariffs on imports from Japan and South Korea. Just days later, on July 12, it threatened 30 per cent tariffs on products from the EU and Mexico, even while talks are still ongoing with these nations. The GTRI report urged India to recognize that it is not the only country facing such pressure. The US is currently in trade negotiations with over 20 countries and seeking concessions from more than 90. However, most are pushing back, recognizing that these MASALA deals are politically driven and offer no lasting certainty in international trade. (ANI)
Time Business News
7 days ago
- Business
- Time Business News
India should avoid rushing for trade pact with US Experts
New Delhi, Jul 13 (PTI) India should avoid rushing into a trade deal with the US that compromises core sectors like agriculture, experts on Sunday said, cautioning that Washington is not sparing even its key partners like the EU. The US has shot off letters to 24 countries and the European Union (EU) imposing tariffs that are as high as 50 per cent on Brazil. On its key trading partners like the EU and Mexico, 30 per cent duties have been proposed from August 1. Economic think tank GTRI (Global Trade Research Initiative) said India must recognise that it is not alone in facing US pressure. The US is currently negotiating with over 20 countries and seeking concessions from more than 90. 'Yet most are resisting because they see these MASALA (Mutually Agreed Settlements Achieved through Leveraged Arm-twisting) deals for what they are politically driven, transactional demands offering no lasting trade certainty,' GTRI Founder Ajay Srivastava said. He added that both the EU and Mexico are major trade partners of the US, and Washington can impose tariffs on them to pressure them into quick deals, India cannot expect a balanced deal. Another trade expert said India should tread cautiously while negotiating the trade pact with the US. The expert added that Trump's trade threat is rapidly losing credibility as despite more than three months of pressure, only two countries — the UK and Vietnam — have agreed to the USA's one-sided terms. From Japan and South Korea to the EU and Australia, countries are resisting Trump's trade deals that demand tariff cuts without reciprocal US concessions, mandate guaranteed purchases of American goods, and leave the door open for future tariffs even after a deal is signed, the GTRI said. A team of Indian trade negotiators will soon visit Washington to further talks for the proposed Bilateral Trade Agreement (BTA). 'India should stay the course and avoid trading away core sectors like agriculture. A hasty deal under pressure could have irreversible consequences, especially when such agreements may not survive the next shift in US politics,' Srivastava said. (This story has not been edited by TIMEBUSINESSNEWS and is auto-generated from PTI) Author Credits TIME BUSINESS NEWS
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Business Standard
7 days ago
- Business
- Business Standard
India should avoid rushing for trade agreement with US, say experts
India should avoid rushing into a trade deal with the US that compromises core sectors like agriculture, experts on Sunday said, cautioning that Washington is not sparing even its key partners like the EU. The US has shot off letters to 24 countries and the European Union (EU) imposing tariffs that are as high as 50 per cent on Brazil. On its key trading partners like the EU and Mexico, 30 per cent duties have been proposed from August 1. Economic think tank GTRI (Global Trade Research Initiative) said India must recognise that it is not alone in facing US pressure. The US is currently negotiating with over 20 countries and seeking concessions from more than 90. "Yet most are resisting because they see these MASALA (Mutually Agreed Settlements Achieved through Leveraged Arm-twisting) deals for what they are politically driven, transactional demands offering no lasting trade certainty," GTRI Founder Ajay Srivastava said. He added that both the EU and Mexico are major trade partners of the US, and Washington can impose tariffs on them to pressure them into quick deals, India cannot expect a balanced deal. Another trade expert said India should tread cautiously while negotiating the trade pact with the US. The expert added that Trump's trade threat is rapidly losing credibility as despite more than three months of pressure, only two countries -- the UK and Vietnam -- have agreed to the USA's one-sided terms. From Japan and South Korea to the EU and Australia, countries are resisting Trump's trade deals that demand tariff cuts without reciprocal US concessions, mandate guaranteed purchases of American goods, and leave the door open for future tariffs even after a deal is signed, the GTRI said. A team of Indian trade negotiators will soon visit Washington to further talks for the proposed Bilateral Trade Agreement (BTA). "India should stay the course and avoid trading away core sectors like agriculture. A hasty deal under pressure could have irreversible consequences, especially when such agreements may not survive the next shift in US politics," Srivastava said.
Time of India
7 days ago
- Business
- Time of India
India should avoid rushing for trade pact with US, warn experts
India should avoid rushing into a trade deal with the US that compromises core sectors like agriculture, experts on Sunday said, cautioning that Washington is not sparing even its key partners like the EU. The US has shot off letters to 24 countries and the European Union (EU) imposing tariffs that are as high as 50 per cent on Brazil. On its key trading partners like the EU and Mexico, 30 per cent duties have been proposed from August 1. Economic think tank GTRI (Global Trade Research Initiative) said India must recognise that it is not alone in facing US pressure. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo The US is currently negotiating with over 20 countries and seeking concessions from more than 90. "Yet most are resisting because they see these MASALA (Mutually Agreed Settlements Achieved through Leveraged Arm-twisting) deals for what they are politically driven, transactional demands offering no lasting trade certainty," GTRI Founder Ajay Srivastava said. Live Events He added that both the EU and Mexico are major trade partners of the US, and Washington can impose tariffs on them to pressure them into quick deals, India cannot expect a balanced deal. Another trade expert said India should tread cautiously while negotiating the trade pact with the US. The expert added that Trump's trade threat is rapidly losing credibility as despite more than three months of pressure, only two countries -- the UK and Vietnam -- have agreed to the USA's one-sided terms. From Japan and South Korea to the EU and Australia, countries are resisting Trump's trade deals that demand tariff cuts without reciprocal US concessions, mandate guaranteed purchases of American goods, and leave the door open for future tariffs even after a deal is signed, the GTRI said. A team of Indian trade negotiators will soon visit Washington to further talks for the proposed Bilateral Trade Agreement (BTA). "India should stay the course and avoid trading away core sectors like agriculture. A hasty deal under pressure could have irreversible consequences, especially when such agreements may not survive the next shift in US politics," Srivastava said.
