India US Trade Deal: The central government on Friday rejected a report which claimed that the bilateral trade deal with the US has been stopped or is being delayed. In a statement issued by the Ministry of Commerce and Industry, it was said that talks are going on between the two countries regarding this agreement. The Ministry clarified that the claims made in some media reports regarding the trade deal are not true.
Government statement on trade deal
This clarification of the government has come at a time when a report by news agency Reuters had said that India may adopt a ‘wait and watch’ strategy regarding tariff policy for the next few months and may postpone the trade deal with America.
The report also said that the pace of this agreement slowed down after the Supreme Court of the United States’ decision to eliminate American tariffs in February. Since then, there has been no major progress on this issue between the two countries, because Washington’s attention is currently focused on the tension related to Iran.
Reuters quoted four government officials as saying that this trade deal may be postponed for the next several months. However, the Commerce Ministry rejected these claims and said that both the parties are in constant talks and the process towards an agreement is going on.
Trump started investigation
This situation related to the trade deal has come to light at a time when US President Donald Trump has restarted the investigation into alleged “unfair trade practices” against about 60 countries including India and China. The focus of this investigation will be on the alleged use of forced labor in imports.
Along with this, America has also started investigating cases related to excess industrial capacity against 16 major trading partner countries.
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