US needs to 'fix' countries like India, Brazil: US Commerce Secretary Lutnick

Commerce Secretary Howard Lutnick has said that the US will have to fix countries like Brazil and India asserting that these nations need to react correctly to America by opening their markets and refraining from actions that could harm American interestsThe Trump administration has imposed 50 per cent tariffs on India including a 25 per cent tariff on New Delhis purchases of Russian oil among the highest tariff rates imposed on any country in the worldWe have a bunch of countries to fix like Switzerland Brazil India these are countries that need to really react correctly to America Open their markets stop taking actions that harm America and thats why were off sides with them Lutnick said in an interview with NewsNationLutnick said that these countries have to understand that if you want to sell to the US consumers youve got to play ball with the President of the United StatesApart from India and Brazil Lutnick also mentioned countries like Taiwan and Switzerland that have unresolved trade issues with the USBut well sort it out over time Lutnick said while talking about these countries including IndiaIndia has been maintaining that its energy procurement is driven by national interest and market dynamics India turned to purchasing Russian oil sold at a discount after Western countries imposed sanctions on Moscow and shunned its supplies over its invasion of Ukraine in February 2022The US remained Indias largest trading partner for the fourth consecutive year in 202425 with bilateral trade valued at USD 13184 billion USD 865 billion exportsThe US accounts for about 18 per cent of Indias total goods exports 622 per cent in imports and 1073 per cent in the countrys total merchandise tradeA delegation led by Union Commerce and Industries Minister Piyush Goyal was in New York last week for meetings with the US sideThe two countries had hoped to conclude the first tranche of a Bilateral Trade Agreement by OctoberNovember of 2025 The pact is aimed at more than doubling the bilateral trade to USD 500 billion by 2030 from the current USD 191 billionA team of officials from the office of the US Trade Representative also visited India on September 16 to discuss various aspects of the trade deal and decided to intensify efforts in this regardThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever