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New Delhi, Feb 10 (PTI) The Congress on Tuesday claimed the India-US trade deal is not a "calibrated opening", but a "coerced opening" and India has been "forced to concede" more than what it has got.
In a post on X, Congress general secretary, communications, Jairam Ramesh said, "It did not take long for President Trump and his team to puncture the tall claims being made by the PM and his many megaphones on the Indo-US trade deal." Clearly, the US' understanding of the deal is very different from the propaganda that is being put out by the Modi government, he said.
"This is not a calibrated opening but a coerced opening. India has been forced to concede more than what it has got. And now our much-touted advantage over Bangladesh in textile exports to the US has vanished with the details of the US-Bangladesh trade deal also having just been announced," Ramesh said in his post.
Bangladesh has secured a reduced 19 per cent tariff under a trade agreement with the United States that would exempt some textiles and garments manufactured with US materials, its interim government chief Muhammad Yunus said.
In an X post on Monday, he said Washington had "committed to establishing a mechanism for certain textile and apparel goods from Bangladesh using US-produced cotton and man-made fibre to receive zero reciprocal tariff in the US market". PTI SKC SKC NSD NSD
India-US trade deal seen as coerced opening; concessions may erode India's textile advantage versus Bangladesh. The India-US trade arrangement is described as a coerced opening in which India conceded more than it obtained, and a US-Bangladesh textile understanding-reducing tariffs and exempting certain goods made with US materials from reciprocal tariffs-is said to have erased India's competitive advantage in US textile markets.Press 'Enter' after typing page number.