Several US court rulings have suggested that some of President Trump’s policies under challenge may fall short of legal requirements. But they are still not final rulings on the issue.
New Delhi is looking for a balanced and a mutually beneficial trade agreement with the US but what it gets as compared to other countries will determine what is ultimately finalised in the deal.
“What we get as compared to other countries, will determine what we ultimately finalise in the deal,” said an official.
The US still retains the authority to impose additional tariffs using other legal provisions such as Sections 301, 128, and 228.
Teams of both countries will start the next round of discussions this week in New Delhi on the proposed bilateral trade agreement.On the possibility of the agreement on an interim trade deal before July 9, the official said there were a lot of uncertainties at present because of the US plan to further increase tariffs on steel and a stay on a court order against the US authorities’ decisions on tariffs.”Exports are increasing. There are several things we can buy from the US, for example shale gas, LNG, and crude oil. The more diversified our sources, the greater the benefit for us. Prices are also low in the US,” said the official.
Content Source: economictimes.indiatimes.com