US Commerce Secretary Calls for Market Reforms in Key Trade Partners

Commerce Secretary Howard Lutnick emphasizes the need for countries like Brazil and India to open their markets and refrain from actions detrimental to American interests. The US recently imposed significant tariffs on India, while India pursues energy procurement aligned with national interests amid US-India bilateral trade discussions.

Commerce Secretary Howard Lutnick has expressed concerns about certain countries, including Brazil and India, needing to 'fix' their economic strategies in favor of American interests. Lutnick insists these nations should open their markets and cease harmful actions against the US.

Under the Trump administration, a 50% tariff, including a 25% tariff on Russian oil purchases, was imposed on India, marking one of the highest tariffs globally. In an interview with NewsNation, Lutnick mentioned similar concerns with Switzerland and Taiwan.

Lutnick's remarks come amid ongoing discussions between the US and India, aiming to significantly increase bilateral trade to USD 500 billion by 2030. A delegation from India visited New York for trade negotiations, reflecting efforts from both sides to resolve trade issues.

(With inputs from agencies.)