India is unlikely to make an immediate retaliation for the imposition of duties by President Donald Trump and focuses on dealing with a bilateral trade agreement with the US, with the aim of reducing duties, according to The Economic Times. It is recalled that last week, Trump announced the imposition of a 26% duty on US imports from India, fiercely affecting exporters and intensifying fears that the already slow growth of the economy, which is affected by weak consumer confidence, will worsen. A lower tariff scale could provide some relief, but the escalation of global commercial tensions remains a serious threat. During his visit to Washington, after Trump’s return to the Oval Office, India Prime Minister Narendra Monty and US President have agreed to negotiate a bilateral trade agreement until autumn this year.
Source: News Beast
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