New Delhi [India], February 12 : Amid the political showdown over the India-US interim trade deal, Congress MP Karti Chidambaram on Thursday termed the agreement "very opaque" and argued that the agreement lacks clarity.
The Congress MP further said that India hasn't confirmed signing an agreement.
"The (India-US) trade deal is very opaque. There has been an announcement by the US side; the Indian side has not clarified whether we have signed an agreement or if it is only an intention to sign an agreement. If we are signing an agreement, what are the concessions we are giving? Until we have the details of the trade deal, how can we even accept this trade deal? There is only an announcement by the US President on social media, and there has been no signing," the Congress MP told ANI.
Meanwhile, Union Minister Chirag Paswan on Thursday slammed the Opposition for misleading the public on the India-US Interim Trade Agreement, asserting that the Central government has ensured that farmers' and dairy interests will not be compromised.
In an interview with ANI, Paswan said, "The Opposition tried to mislead the public on the India-US Interim Trade Agreement. They set a narrative that the agreement is anti-farmers and anti-dairy. The Central government has assured that the interests of farmers and dairy will not be jeopardised."
The India-US Interim Agreement, announced last week, is intended as a framework for a reciprocal and mutually beneficial trade pact between the two countries. The agreement will involve the elimination or reduction of tariffs on US industrial goods and a wide range of food and agricultural products, including dried distillers' grains, red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products.
In return, the United States will apply a reciprocal tariff of 18 percent on selected Indian goods, including textiles, apparel, leather, footwear, plastics, rubber, organic chemicals, home decor, artisanal products, and certain machinery. Upon full implementation, US tariffs on items such as generic pharmaceuticals, gems and diamonds, and aircraft parts will be removed.