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An American high -level delegation is going to visit on Tuesday after India’s bilateral Trade Agreement indicated the tariff cut on US products under the Bilateral Trade Agreement. It also includes Assistant, US Trade Representative Braid Lanch of South and Central Asia.
This visit of the US delegation is going to take place at a time when President Trump has announced to install recipes on 2 April. It is feared that it may affect agricultural products, meats, processed food items, automobiles, diamonds, gold products as well as chemicals and pharma products exported from India. On which the difference of tariff can range from 8 to 33 percent.
However, on the other hand Economic Think Tac GTRI (Global Trade Research Initiative) has warned about this. The GTRI said on Tuesday that India should be cautious while interacting with the US on the proposed bilateral trade agreement, as the absence of the fast track trade authority in the US makes any agreement sensitive to the changes made by the Congress.
In this, the GTRI also said that the certification process allows the US to re -interact with it after signing the trade agreement. This demands domestic legal change, regulatory reforms and policy changes. It can weaken India’s sovereignty.
Ajay Srivastava, founder of Global Trade Research Initiative (GTRI), says, “As the conversation continues, further diplomatic skills are not only needed, but also a vigilance towards the legal disparities underwritted in the US trade policy.”
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