New Delhi: A top member of Donald Trump’s administration has hit out at India once again on the issue of trade imbalance, saying that it is one of the countries that needs ‘fixing’. Such a remark from US commerce secretary Howard Lutnick threatens to put the ongoing trade talks between the two countries under stress.
If India wishes to sell to American consumers, it will have to “play ball with the President”, Lutnick said. Hitting out at India and Brazil, he said that these countries need to do more to open their markets and stop taking actions that harm US interests.
“We have a bunch of countries to fix, like Switzerland, Brazil, India – these are countries that need to really react correctly to America. Open their markets, stop taking actions that harm America, and that’s why we’re off sides with them,” Lutnick said during an interview with NewsNation.
India now faces up to 50% tariffs on certain goods. Half of this is penalty for importing crude from Russia. The US recently announced 100 per cent duties on patented pharmaceutical products. This will also have some impact on Indian pharmaceutical companies.
“These countries (India and Brazil) have to understand that if you want to sell to the US consumers, you’ve got to play ball with the President of the United States. The way that President Trump does deals, the first deal is always the best deal. And then the next deal is higher, the next deal is higher, the next deal’s higher,” Lutnick said.
The US commerce secretary also pointed out that, while several trade negotiations remain unresolved, India and Brazil are among the “big ones” on the US agenda.
“You still have Taiwan. That’s a big one that’s coming pretty soon. I expect to really be talking to them and sorting that out. So a bunch of countries left, but the big ones, India and Brazil, are little…but we’ll sort it out over time,” he said.
India and the US have resumed trade talks after a break. A delegation led by Indian commerce minister Piyush Goyal visited Washington from September 22-24, meeting US trade representative ambassador Jamieson Greer and ambassador-designate to India Sergio Gor to discuss a possible agreement.
“The delegation had constructive meetings with the US Government on various aspects of the deal. Both sides exchanged views on possible contours of the deal, and it was decided to continue the engagement with a view to achieve an early conclusion of a mutually beneficial Trade Agreement,” the Union commerce ministry said in a statement.
