A day after 50% of the US tariffs on imported goods from India were implemented, the US President’s top economic advisor issued another warning that if India fails to curb its crude oil trade with Russia, the US would not relax its stance towards Washington’s punitive tariff on Indian imports. Kevin Haset, director of the US National Economic Council, described the trade talks with New Delhi as ‘complex’ and accused India of adopting ‘obstinate’ attitude in opening its market for US products.
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He said that if Indians do not bow down, I do not think President Trump would bow down. On August 27, the US doubled tariffs on Indian goods to 50 percent, which is the highest for any country other than Brazil. Haset further stated that trade talks with India were complex and claimed that one of the reasons for this is “The pressure we are putting on Russia is to compromise peace and save millions of people.” And then, there is also the dogma of India to open its market for our products.
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Kevin Haset connected Indo-US trade talks with a marathon
Describing the Indo-US trade dialogue as a marathon, Haset said that there is a need to accept a long-term approach to dialogue and before reaching the final conclusion of New Delhi and Washington. He said that when you look at business talks, we all have learned a lesson that you should keep your eyes on the horizon and understand that there will be ups and downs before reaching the final conclusion.
What did Scott Besant say about the high tariff on India
Trump’s advisor’s statement reminds us of the previous comments by US Finance Minister Scott Besant, when he said that high tariffs on India are not only due to the purchase of Russian oil by India, but also due to the long term of the ongoing trade agreement negotiations. Besant told Fox Business, I thought there would be an agreement in May or June; There may be an agreement with India as soon as possible. But they somehow associated us with him.