India-US trade deal will redefine trade, have global impact: Panda

BJP's Baijayant Panda termed the India-US trade deal 'historic', saying it will redefine trade and stabilise geopolitics. President Trump announced a tariff cut to 18% for Indian goods, while Congress has raised concerns over the deal's details.

BJP Hails 'Historic' Deal

BJP National Vice President Baijayant Panda has said that the “historic” India-US trade deal will “redefine trade” between the two countries and have a positive global impact to stabilise many aspects of geopolitics.

Ahead of the NDA Parliamentary party meeting held on Tuesday, the Lok Sabha MP from Odisha's Kendrapara said, “The breakthrough between India and the US talks yesterday is historic. It is not just a trade deal that will redefine trade between the two largest democracies in the world; it will also have a positive global impact and help stabilise many aspects of trade and geopolitics" "I congratulate PM Modi and President Trump on this historic deal," Panda said. Meanwhile, PM Modi was felicitated by NDA MPs at the Parliament Annexe Building for the India-United States trade deal.

Trump Announces Tariff Cut, Modi Responds

US President Donald Trump has announced that US and India "have agreed to a trade deal," with Washington reducing the reciprocal tariff from 25 per cent to 18 per cent, "out of friendship and respect" for PM Modi. Trump also said that India has agreed to stop purchasing Russian oil and will fulfil its energy needs from the US and “potentially” Venezuela.

Following Trump's post, Prime Minister Narendra Modi, on X, said it was wonderful to speak with his "dear friend President Trump" and expressed delight that "Made in India products will now have a reduced tariff of 18%".

Congress Demands Details, Raises Concerns

Meanwhile, Congress has 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. "Trump says that India will move to reduce tariff and non-tariff barriers against the United States to 'zero'. It seems India has agreed to completely open our market for America. This will impact Indian industry, traders and farmers. There is talk of opening the agriculture sector for America in the statement as well. What exactly is the deal? How have the security and interests of our farmers been ensured?" they asked. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)