India-US trade deal is imbalanced: CPI(M)

Terming the Indo-US trade deal as an imbalanced one, the CPI(M) politbureau on Tuesday said that the details of the deal must be placed in Parliament and in the public domain. “It is important that the government place the full trade agreement in the Parliament and in the public domain, so that there is a thorough discussion.

Any harmful provisions must be rescinded to protect the interests of Indian industry, agriculture and working people,” said CPI(M) in a statement. CPI(M) said the announcement made by the US President Donald Trump on his social media posts States that Indian goods imports will face an 18 per cent tariff, while India reduces tariffs and non-tariff barriers on US goods to zero. “Eliminating tariffs will result in flooding the country with US goods, which will adversely impact industries and workers’ livelihoods.

Removal of non-tariff barriers would mean eliminating subsidies and other measures which support Indian farmers.

“Trump has claimed that India has agreed to stop buying Russian oil and committed to buy $500 billion worth of US energy, technology and farm products. This, if true, shows up the highly unequal nature of the trade deal with India in a subordinate position, circumscribing its sovereignty,” said CPI(M).