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India Refuses Trade Talks: India will not...

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India Refuses Trade Talks: India will not negotiate with the U.S. over its citation for violating the U.S. Omnibus Trade Act, the Press Trust of India reported. Last month, the United States cited India under section 301 of the 1988 trade act for impeding direct foreign investment and closing the Indian insurance market to foreign firms. The law allows the United States to levy tariffs of 100% on Indian goods if negotiations fail to remove the barriers within 18 months.

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