New Delhi, February 7: Congress Rajya Sabha MP Jairam Ramesh has alleged that the trade agreement between the United States and India was made under pressure. He described it as a forced interim deal. Ramesh claimed that, based on this trade agreement, India would not purchase oil from Russia, and if it does, the US would impose a 25% tariff.
In an interview with a news agency, Ramesh stated, “A joint statement has just been released. On February 2, President Trump first announced on social media that the trade deal was being declared at the behest of Prime Minister Modi. It is clear that India is under pressure, and we were compelled to make this interim deal.”
He added, “For the first time, we will not be buying oil from Russia. The US has separately stated that if oil is purchased, a 25% tariff will apply. The first point in the joint statement mentions American farmers, indicating that India will grant them import duty concessions.”
The Congress MP emphasized that American farmers would benefit significantly, as the joint statement suggests that India will reduce or eliminate import duties. This reduction will harm Indian farmers.
Ramesh noted, “India imports approximately $45 billion from the US. The statement indicates that imports will triple, meaning India will import $500 billion from the US over the next five years. This could turn the current trade surplus into a trade deficit in the future. Meanwhile, taxes on Indian exports are increasing. Therefore, this deal is not in India’s interest.”
He also questioned the absence of any mention of the H-1B visa in the agreement.
Ramesh stated that until more details emerge, these questions will persist and will be raised in Parliament. The Congress party and other opposition parties have raised these concerns.
