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Trade deal between India and US fails over tariffs on ICT products

Modi and Trump at UN General Assembly
Source: Marendra Modi/Twitter

India’s refusal to remove the 20% tariffs on Information and Communication Technologies’ (ICT) products has reportedly caused the trade deal between India and USA to fall through, The Hindu reported. India is concerned that removing these tariffs could open up the market to a flood of Chinese products, the report said. A bilateral trade deal was expected to be announced on the sidelines of the UN General Assembly meeting on September 25. However, after the meeting, President Trump said, “I think very soon we will have a trade deal. We will have a larger deal later on.” Was this deal expected? Numerous media reports had hinted at the announcement of this deal, either at the Howdy Modi event in Houston, or at the sidelines of the UN GA meeting. Who were involved in the negotiations? Indian Commerce and Industry Minister…

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