Government to Brief Shashi Tharoor-led Panel on India-US Trade Talks
The Standing Committee on External Affairs, chaired by Shashi Tharoor, will get a briefing from the Union government today regarding the most recent events in India's foreign policy, as well as trade negotiations and tariffs between the US and India.
According to a schedule released by the Lok Sabha Secretariat, representatives from the Ministry of External Affairs (MEA) and the Ministry of Commerce & Industry will brief the panel, which is led by Congress leader Shashi Tharoor, on the latest developments in India's foreign policy, with particular reference to US-India trade negotiations and tariffs.
Scheduled at 4 pm, reports claim that the MEA informed the parliamentary panel before to the hearing that India was compelled to participate in a geopolitical struggle that it had not initiated as the US' determination to impose secondary sanctions on the country. According to reports, India remains dedicated to having positive interactions with the US despite the decline in confidence.
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Last week, Shashi Tharoor stated that India must protect its interests in response to the US' 50 percent tariffs on the country.
Shashi Tharoor stated on Thursday that in retaliation for the US levying an extra 25 percent duty on Indian exports, India could also increase tariffs on American goods to 50 percent. Tharoor emphasized that the nation shouldn't be intimidated by such measures and questioned why India should stick with the present 17 percent tariff. He added that no nation should be permitted to pose such a danger to India.
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"What is happening is concerning. A country with which we had close relations, and we were working as strategic partners. If that country has changed its behaviour, then India will have to think about many things...Perhaps in the coming two to three weeks, we can hold talks and find a way out. India will also have to look after its own interests," Shashi Tharoor says.
“It will definitely have an impact because we have a trade of $90 billion with them, and if everything becomes 50 percent more expensive, buyers will also think why should they buy Indian things?... If they do this, we should also impose a 50 per cent tariff on American exports... It is not that any country can threaten us like this,” Shashi Tharoor says.
Terming the United States' move to impose additional tariffs on India over its oil imports from Russia as "unfair, unjustified and unreasonable," the Ministry of External Affairs (MEA) declared that New Delhi will take "all actions necessary to protect its national interests.