The United States has shot dead letters to 24 countries and the European Union (EU), which is 50 percent more on Brazil. On major trading partners such as the European Union and Mexico, 30 percent of duties have been proposed from 1 August.
The Economic think tank GTRI (Global Trade Research Initiative) said that India would have to believe that it is not alone in facing American pressure.
The US is currently interacting with more than 20 countries and seeking more than 90 concession.
“Nevertheless, most of them are protesting because they look at these spices (through leveraged arm-twisting they are politically operated for deals), the demand for transactions offers a permanent trade certainty,” said GTRI founder Ajay Srivastava.
He said that both the European Union and Mexico are the major trade partners of the US, and Washington can put tariffs on them to put pressure on them in quick deals, India cannot expect a balanced deal. Another business expert said that India should walk carefully while talking on the trade treaty with the US. The expert said that Trump’s trade threat is losing rapid credibility because despite more than three months of pressure, only two countries-UK and Vietnam-USA have agreed to unilateral words.
From Japan and South Korea to the European Union and Australia, the country is opposing Trump’s trade deals, demanding tariff cuts without mutual American concessions, guarantees the mandate of American goods, and even after signing a deal, leaving the door open to the future tariff, GTRI said.
A team of Indian trade dialogues will soon visit Washington for further interaction for the proposed bilateral trade agreement (BTA).
Srivastava said, “India should stay in the course and avoid removing main areas like agriculture. A haste under pressure can have a hasty unchanged results, especially when such compromises cannot escape the next innings in American politics,” Srivastava said.