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Goyal says India has trade deals covering 38 countries
The Indian Express·
Commerce Minister Piyush Goyal said Thursday a United States trade deal will protect sensitive Indian sectors. He told an ISID conference farmer interests would not be compromised once details appear. US Secretary of State Marco Rubio said last week the sides are weeks from signing and that 99 percent of the work is done. Goyal cited deals covering 38 countries.
Prism
What It Means For You
- Goyal said sensitive farm interests would not be traded away when the US pact’s details are released.
- Rubio linked a pause on oil-related tariffs to progress on the India trade deal.
- India has banned imports of goods using forced labour after a US Section 301 investigation.
What's Happening
- Goyal said critics of the US free trade deal are speaking before full details are out.
- He argued comparative advantage matters more than absolute trade numbers.
- Both sides have found convergence on tariffs beyond oil-related measures, according to the report.
Other Deals on the Table
- Goyal said India pulled out of RCEP talks in Bangkok on November 4, 2019.
- He said agreements before 2014 covered $10 trillion with countries that largely competed with India.
- He said he has yet to see a flaw cited in the eight FTAs concluded by the present government.
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