By Mohammad Suaib
New Delhi [India], February 3 : Congress MP Karti Chidambaram on Tuesday criticised the India-US trade deal, saying it undermines India's sovereignty as the US appears to be deciding India's trade and oil partners, and called for a relationship based on mutual trust and respect.
The India-US trade deal reduces tariffs on Indian goods in the US to 18 per cent, while Washington has claimed the deal will help it export more agricultural products to New Delhi.
Speaking to ANI, Chidambaram said, "If the President of America can decide whom India will trade with, it looks like we don't seem to be having an independent grip on our international affairs. America is deciding that India will stop buying oil from Russia. We just had the Russian President over for a state dinner...This is unprecedented. We are a sovereign country, and we should decide what is best for our interests. We need America and America needs us, but it must be a relationship based on mutual trust and respect."
He said that while India and the US remain important trading partners, uncertainty over President Trump's policies and conditions, including restrictions on oil imports from Russia and Iran, raises concerns about the impact of the US trade deal on India's economy.
"I have always said that India needs America and America needs India. Both are large economies and have large populations. America cannot replace the supply chains from India very easily. But President Trump is a very mercurial President. At one stage, he said that the Indian economy is dead. Now he says that he is very happy to do trade with India. At one stage, he said that he interceded to stop the war between India and Pakistan...So, we do not know where Trump stands. He has announced that he is reducing the tariff to 18% but what are the conditions for that? He is prohibiting India from buying oil from Russia, from Iran, two longstanding trading partners of India," he said.
"He is saying that India will buy oil from Venezuela...Are we buying 500 billion dollars' worth of goods from the US right now? Are we capable of that? Until we have the details of the trade pact, how can we pass judgment? We can't be passing judgment on social media post of President Trump and President Trump is known to be making very impulsive statements," he further added
Congress demanded the complete details of the India-US trade deal, raising questions over several key aspects such as the opening of the agriculture sector, the reduction of tariffs to "zero" and a pause on the purchase of Russian oil, as claimed by US President Donald Trump.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor