Some experts feel that Trump's trade protectionist views could have some negative impact on India's exports and might exert some pressure on the rupee in the short term.
According to the Office of the United States Trade Representative, India consented to lower tariffs on various American goods including frozen turkey, frozen duck, fresh and frozen blueberries and cranberries, dried and processed blueberries and cranberries, and fresh and frozen cranberries.
India-US Trade Policy Forum: Addressing a press conference in Washington, Goyal said that there was a very substantial discussion amongst the officials to find out solutions to the several WTO disputes between India and the US.
India called out the West and cautioned that the issue of food grains should not go the way of Covid-19 vaccines, which were purchased by the rich nations in quantities excess of what they needed, leaving the poor and less developed nations scrambling to administer even the initial doses to their people.
PM Modi during talks with Trump, during his recently concluded first official visit, tried to clear all the doubts that the US President had about India-US trade. The Prime Minister also explained it to the President the scrapping of Article 370 and what is Citizenship Amendment Act (CAA).
India and the US are set to sign the first phase of a mega trade deal soon under a model followed by the Donald Trump administration in finalising a similar deal with China.
India and the US have almost resolved broad issues of the proposed trade package and an announcement is expected soon, Commerce and Industry Minister Piyush Goyal said on Monday.
Some farm products from either side, such as Indian mangoes and pomegranates, may get easier access into the US while New Delhi will address American concerns over import of alfalfa hay.
"I can't believe that people today are less ingenious than we were in our time. So I'm reasonably confident that we will find a fix," said the top Indian diplomat who is currently on a three-day official trip to Washington DC.
the Minister stopped short of revealing whether the two countries have reached a deal or not.
Trump has been putting pressure on India to do more to open its markets, reiterating this week on Twitter that New Delhi's high tariffs on imports were “unacceptable”. He did not, however, give further details on any possible action amid the two nations' ongoing trade row.
"India has long had a field day putting Tariffs on American products. No longer acceptable!" Trump tweeted on Tuesday evening (IST).
The US had raised tariffs on Indian aluminium and steel last year and had ended India's $5.6 billion trade concessions under the Generalised System of Preferences (GSP) programme.
"The United States has deep ties to the nation of India and I am grateful for my friendship with Prime Minister Modi," Trump said before lighting the ceremonial Diya in the historic Roosevelt Room of the White House.
The trade deficit between India and the US dropped by almost six per cent in 2017 compared to the previous year, the US Trade Representative (USTR) has said.
Washington: India and the US on Tuesday kicked off the first strategic and commercial dialogue with a focus on boosting trade ties and enhancing regional security ahead of Prime Minister Narendra Modi's meeting with President
New Delhi: The five-fold trade between India and the US is expected to be raised upto $500 billion in the next 10 years. However to avoid the arms and radio active materials going undetected, America
Washington: Hard selling India with assurances of a business-friendly environment and a stable and simpler tax regime, Prime Minister Narendra Modi invited top US business to come and invest in India.Addressing the US-India Business Council
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