India’s tariff reduction is not an unusual step, as it reflects similar agreements made with other countries such as Australia and the UAE. Ongoing negotiations continue with the EU and UK, placing discussions with the United States within a broader trade strategy.
India’s recent agreement to cut its tariffs has been described by a government source as not an “extraordinary step.” This declaration indicates that this action is part of India’s historical trend of tariff reductions with various developed nations.
The source further indicated that such agreements have already been established with countries including Australia, the United Arab Emirates, Switzerland, and Norway. Additionally, current negotiations are ongoing with partners such as the European Union and the United Kingdom.
Sources emphasize that ongoing discussions with the United States should be contextualized within this broader framework of trade relations and tariff commitments. Understanding these negotiations as part of a comprehensive strategy provides valuable insights into India’s trade policy.
In summary, India’s decision to cut tariffs is a continuation of its established practice of engaging in similar trade agreements with various nations. The inclusion of ongoing negotiations with prominent partners like the European Union and the United Kingdom further illustrates India’s commitment to enhancing its trade relationships. This context plays a crucial role in interpreting the discussions with the United States.
Original Source: www.livemint.com
