India, US must sign joint statement before announcing trade deal
Think tank
This story was originally published at 16:24 IST on 14 July 2025
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NEW DELHI – India must insist on signing a joint statement with the US before a trade deal between the two nations is announced, said Ajay Srivastava, founder of think tank Global Trade Research Initiative. Srivastava's concern stems from a confusion in the US trade deal with Vietnam.
US President Donald Trump on Jul. 2 announced a trade deal with Vietnam, claiming Vietnamese exports to the US would face a 20% tariff. According to reports, Vietnam has told the US that it had agreed to an 11% tariff rate, not 20%. Vietnam has not yet accepted this provision in the trade deal.
"This episode is a cautionary tale why every country must demand clear, written and jointly agreed texts before endorsing any deal with US," Srivastava said in a note. "India has experienced similar dissonance with US before—during a military standoff with Pakistan in May, President Trump repeatedly claimed credit for mediating peace, asserting he had stopped a war between the two nations." New Delhi has rejected Trump's claim but the US President continues to take credit for the pause in hostilities between India and Pakistan.
India and the US have been in discussions over a Bilateral Trade Agreement since February. Informist last week reported that a delegation of Indian government officials is likely to visit the US soon for negotiations on the proposed trade deal. The Indian industry is hopeful that a preliminary deal will be announced very soon--before the US' country-wise reciprocal tariffs kick in from Aug. 1. End
Reported by Shubham Rana
Edited by Tanima Banerjee
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