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Tariffs

They need to do a lot more to attract people to start working with their hands again. Too many spoiled brats today afraid to get their hands dirty.

 
India has offered “deep” cuts to its import tariffs on a swath of goods in talks with the US, but is seeking to retain its high levies on sensitive agricultural commodities such as foodgrains and dairy products, according to two people with knowledge of the negotiations. The government of Prime Minister Narendra Modi is racing to secure a preliminary trade agreement with the US to forestall President Donald Trump’s threatened imposition of a 26 per cent “reciprocal tariff” on all Indian goods from July 9. “There is a possibility of a very deep tariff reduction from India under the bilateral trade agreement,” said one of the people familiar with India’s stance on the talks, who asked not to be identified because they were confidential. “But this is subject to a very balanced outcome for both sides.” The people with knowledge of the talks declined to give details of the range of US goods on which New Delhi had offered to substantially cut tariffs because the negotiations were at an “early stage” and might be complicated by any backlash from affected industries. But they said India’s trade negotiators had signalled flexibility on less sensitive farm products such as almonds, which are currently subject to tariffs of up to 120 per cent, and New Delhi might also cut its tariffs of 2.5 to 3 per cent on imported oil and gas.


 
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