- We have some red lines in the negotiations: Minister of Foreign Affairs of India.
- Jaishankar emphasizes the right to make decisions in “national interest.”
- Analysts warn about the adverse repercussions for India about the high tariffs of the United States.
India's Foreign Minister said on Saturday that trade negotiations with Washington continue, but there are lines that New Delhi needs to defend, a few days before the strong additional tariffs of the United States. UU. They should hit.
Indian goods face additional tariffs in the United States of up to 50%, among the highest taxes by Washington, due to their greater purchases of Russian oil. A 25% tariff has already entered into force, while the remaining 25% will be applied as of August 27.
A planned visit of US commercial negotiators to New Delhi from August 25 to 29 has been suspended, disgusted by the hopes that the levies are lowered or postponed.
“We have some red lines in the negotiations, to be maintained and defended,” said Indian Foreign Minister, Subrahmanyam Jaishankar, in a Economic times Forum event in New Delhi, pointing out the interests of farmers and small producers in the country.
The commercial conversations of India-US collapsed earlier this year because India does not accept to open their vast agricultural and dairy sectors. The bilateral trade between the largest and largest fifth economy in the world has a value of more than $ 190 billion.
“It is our right to make decisions in our 'national interest,” said Jaishankar.
Economics capital analysts said Friday that if the complete tariffs of the United States enter into force and adhere, the coup to the economic growth of India would be 0.8 percentage points both this year and next.
“Long -term damage could be even greater, since a high rate could pierce India's attraction as a global manufacturing center.”
The Indian minister described the political announcements of US President Donald Trump as “unusual.”
“We have not had a president of the United States to carry out its foreign policy as publicly as the current and [it] It is a deviation of the traditional way of doing business with the world, “said Jaishankar.
He also said that Washington's concern for Russian oil purchases of India did not apply to other important buyers, such as China and the European Union.
“If the argument is oil, then there is [other] Great buyers. If the argument is who is operating more [with Russia]Then there are larger merchants, “he said.
Russian-European trade is larger than India-Russian trade, he added.
The minister also said that Russian oil purchases from India had not been raised in previous commercial conversations with the United States before the public announcement of tariffs.
