US has big advantages on services, but projects deficits on goods trade; talks will be based on ‘true picture’, says govt

Commerce Secretary Sunil Barthwal said Tuesday that the Bilateral Trade Agreement (BTA) talks with the US are focused on the exchange of “right facts” and the “true picture” of trade between the two countries.

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This comes as US President Donald Trump has consistently sought to pressurise trade partners, accusing them of “ripping the US off’ on goods trade, but overlooking the advantages that America enjoys in the services sector. “When we engage with the US team, all the facts are on the table, and the negotiations are based on the right facts and the data we exchange with them. That is completely rooted in the true picture which exists between the two countries. So, the BTA progresses on those lines,” Barthwal said. Multiple experts in India have also pointed out that the 26 per cent reciprocal tariffs announced by the US on India were based solely on goods trade, while ignoring services trade — an area where the US and other Western countries hold considerable advantages over developing nations.