A day after the US Court docket of Worldwide Commerce curtailed President Donald Trump’s means to impose tariffs utilizing emergency powers, Rajesh Aggarwal, Particular Secretary within the Ministry of Commerce and Business, mentioned on Thursday that US considerations over the commerce deficit shouldn’t hinder progress within the India–US commerce partnership.
Talking on the CII Annual Enterprise Summit, Aggarwal mentioned, “The general dialogue across the commerce deficit is basically a story pushed by the US administration. These are challenges they have to handle as a significant market going through a persistent commerce deficit 12 months after 12 months.”
“That, I imagine, shouldn’t stand in the best way of the India–US commerce partnership,” added Aggarwal, who additionally serves because the chief negotiator for the India–US commerce deal.
Aggarwal additional mentioned that geopolitics and commerce have traditionally been intently intertwined. Nonetheless, from a purely financial perspective, there was a market failure as a result of affect of sure non-market economies.
