India examining US trade memo; directive on bilateral trade deal positive: Report

India is examining the Trump's memorandum - America First Trade Policy - to measure its interaction connected the bilateral commercialized with the US, which is its largest trading partner, sources said connected Wednesday.

They besides said that the White House directive to the United States Trade Representative (USTR) to place countries with which the US tin negociate agreements connected a bilateral oregon sector-specific ground is simply a affirmative improvement for countries similar India.

"We are studying and examining the memo. We person to measure things earlier framing immoderate strategy...As of present from a plain speechmaking of that, I bash not spot thing we request to beryllium disquieted about. Everything that we analyse does not construe into action," 1 of the sources added.

The authorities is besides awaiting confirmation of assignment of cardinal commercialized officials successful the US.

"Confirmations volition instrumentality a spot of time. Once confirmations hap determination volition beryllium discussion. India and the US are bully trading partners," the root said.

According to the memorandum, the USTR would place countries with which the US tin negociate agreements connected a bilateral oregon sector-specific ground to get export marketplace entree for America and shall marque recommendations regarding specified imaginable agreements.

During the archetypal word of President Donald Trump, India and the US had discussed a mini commercialized woody to boost economical ties. It was shelved by the Biden-administration arsenic they were not successful favour of a escaped commercialized agreement.

According to planetary commercialized experts, India-US commercialized woody talks could revive successful presumption of the indications fixed by the memo.

Economic deliberation vessel GTRI has said that India should respond with adjacent measures if the US would enforce higher tariffs connected home goods.

President Trump has again warned that helium volition enforce 100 per cent tariffs against countries of the BRICS bloc, of which India is simply a part, if they instrumentality immoderate steps to regenerate the US dollar.

Trump, who took oath arsenic the 47th President of the US connected Monday, said, "If the BRICS nations privation to bash that, that's okay, but we're going to enactment astatine slightest a 100 per cent tariff connected the concern they bash with the United States." They "have a 100 per cent tariff if they truthful overmuch arsenic adjacent think" astir reducing the usage of the dollar successful planetary trade, helium added.

BRICS is an intergovernmental organisation of 10 countries -- Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates.

In 2023-24, the US was the largest trading spouse of India with USD 119.71 cardinal of bilateral commercialized successful goods (USD 77.51 cardinal exports, and USD 42.19 cardinal of imports and USD 35.31 cardinal commercialized surplus).
Trump has besides said that helium is considering imposing a 10 per cent tariff connected Chinese imports starting February 1 to curb the travel of deadly cause fentanyl that Beijing sends to Mexico and Canada.