New Delhi,
Finance Minister Nirmala Sitharaman said that business talks with the US were moving well. His remarks came before the Country-Specific Tariff, which came into force from 1 August by US President Donald Trump.
During a book release program in the national capital, Finance Minister Sitharaman said that the trade talks with both the US and Britain are moving well.
According to media reports, Finance Minister Sitharaman said, “I can’t comment on whether bilateral trade is good or bad, but we are advancing bilateral relations. The talks with the US and the European Union are moving well.”
Earlier, Trump had said that his administration would complete most of its trade agreements with different countries by 1 August.
During the press conference at the White House, Trump also said that his administration could send a letter to about 200 countries at his tariff rates, which means, ‘There has been an agreement between them.
According to the report of the Yonhap news agency, Trump told reporters before leaving for a visit to Scotland, “August 1 is coming and most of our deals will be completed.” He said, “When those letters are sent, it would mean that their deal is confirmed.”
Meanwhile, India signed the Free Trade Agreement (FTA) with Britain this week.
Union Commerce and Industry Minister Piyush Goyal appreciated the Indo-Bitten CETA, calling it a ‘game-changing’ agreement that provides immense opportunities and benefits to farmers, traders, MSME sectors, young professionals and fishermen.
He said in a press conference, “The Cabinet of India has already approved the Indo-Britain FTA and now after the completion of the recommendation process by the British Parliament, the agreement will be implemented.”
According to the Union Commerce Minister, among all FTAs signed by India, FTA with Britain is the largest, broad and important.
This agreement, called the Cast Economic and Trade Agreement (CETA), ensures a fee-free access to India’s 99 percent exports to Britain, which covers almost the entire trade sector.
