India US negotiating on wide range of trade concerns Congressional report

India US negotiating on wide range of trade concerns Congressional report

India and the US are negotiating on a wide range of trade concerns, including greater access to the Indian market for American agricultural products, potentially in exchange for America restoring New Delhi's status under the Generalised System of Preferences (GSP), according to a Congressional report.

President Donald Trump in 2019 terminated India's designation as a beneficiary developing nation under the key GSP trade programme after determining that it has not assured the US that it will provide equitable and reasonable access to its markets.

“The United States and India are negotiating on a wide range of trade concerns, including greater access to the Indian market for US agricultural products, potentially in exchange for US restoration of India's eligibility under GSP. The current status of the negotiations has not been disclosed,” the latest report by independent Congressional Research Service (CRS) said.

Reports of the CRS are not an official report of the US Congress. Its subject matter experts prepare reports on various issues for the American lawmakers to make informed decisions. The comment on India is mentioned in the “Major Agricultural Trade Issues in the 117th Congress” dated January 8.

In September last year, the Indian government enacted three laws intended, in part, to help integrate Indian agriculture into the global market.

Commerce and Industry Minister Piyush Goyal in September said most issues preventing a limited trade deal between India and the United States have been resolved and an agreement could be signed anytime the political situation in the US allows it.

India is seeking exemption from high duties imposed by the US on some steel and aluminium products, resumption of export benefits to certain domestic products under the GSP, and greater market access for its products from sectors such as agriculture, automobile,automobile components and engineering.

On the other hand, the US wants greater market access for its farm and manufacturing products, dairy items and medical devices, apart from cut in import duties on some information and communication technology products.

Noting that the United States and India view one another as important strategic partners to advance common interests regionally and globally, the CRS report said given the rapid growth in population and income among a large segment of the population, demand for higher-value food products such as fruits, nuts, dairy products, and other livestock products is growing among Indian consumers.

While India is among the world’s largest producers and consumers of a range of crop and livestock commodities, United States Department of Agriculture (USDA) projects that India will continue to be an important importer of dairy products, vegetable oils, pulses, tree nuts, and fruit and that it will continue to be a major exporter of rice, cotton, and buffalo meat.

Observing that US-India trade negotiations follow a period of trade tensions, the CRS said in March 2018, the United States levied additional tariffs on steel and aluminum imports from India.

India responded by identifying certain US food products for retaliatory tariffs but did not levy them until June 16, 2019, after the United States terminated preferential treatment for India under the GSP.

India’s retaliatory tariffs range from 10 per cent to 25 per cent on imports of US chickpeas, shelled almonds, walnuts, apples, and lentils. Both countries’ tariffs and India’s GSP status are likely issues in the ongoing negotiations, it said.

Agricultural exports from the US to India have increased since 2015, reaching USD 1.6 billion in 2019. The US in the same year imported agricultural products valued at USD 2.6 billion from India.

The CRS said that India maintains high tariffs on many products— for example, 60 per cent on flowers, 100 per cent on raisins, and 150 per cent on alcoholic beverages. Some Members of Congress have requested that the United States Trade Representative (USTR) seek to reduce the current 36 per cent tariffs faced by US pecans. Since 2017, a system of annual import quotas on pulses has restricted US exports of pulses to India.

Export of wheat and barley to India are currently restricted due to its zero-tolerance standard for certain pests and weeds, and restrictions also exist on imports of livestock genetic material, it said.

In its report, the CSR informed lawmakers that USTR may continue challenging India’s domestic support for agriculture at upcoming WTO Committee on Agriculture (COA) meetings and, if necessary, could pursue these concerns through WTO’s dispute settlement mechanism. India’s domestic support for agriculture could be an issue during US-India trade negotiations or during the discussions related to WTO reform on agriculture. PTI LKJ RS AKJ RS

Subscribe to Trend in Google News! Subscribe
Price indexes of financial, industrial sectors at Uzbek stock exchange fall
Price indexes of financial, industrial sectors at Uzbek stock exchange fall
French agency to support sustainable development of livestock sector in Uzbekistan
French agency to support sustainable development of livestock sector in Uzbekistan
Uzbek Commodity Exchange announces weekly quotes of commodities for export
Uzbek Commodity Exchange announces weekly quotes of commodities for export
Loading Bars
Latest
Turkmenistan, Afghanistan agree to resume TAPI construction
Another offshore project to boost operations at Kazakhstan's Kashagan
Russia and China - potential investors in Iran's ports
Azerbaijan shares data on number of vaccinated citizens
Cooperation opportunities between Azerbaijan, Qatar's SMEs discussed in Baku (PHOTO)
Azerbaijan confirms 359 more COVID-19 cases, 263 recoveries
Price indexes of financial, industrial sectors at Uzbek stock exchange fall
Foreign visitors spending more money in Georgia
Russia’s Astrakhan, Baku discussing possibility of building ships for Azerbaijan
Cargo transportation via Iran’s Mehrabad International Airport up
Market capitalization of Baku Stock Exchange reaches highest level
Iran’s Bahar Azadi gold coin price falling
French agency to support sustainable development of livestock sector in Uzbekistan
Saudi index hits 15-year peak on higher oil prices
SOCAR, Axens ink agreement within modernization of Baku Oil Refinery (PHOTO)
Iran shares figures on date harvesting
Azerbaijan joins logistics project with Russia, Uzbekistan on rapid food supply
Bank of Israel optimistic that Omicron won't harm economic growth
Russia to introduce digital technologies in work with Azerbaijani partners - Russian ministry
Retail sales of computer equipment in Azerbaijan increases
Georgia sees increase in money transfers from Azerbaijan
Brazil keen to import urea and petrochemical products from Iran
Uzbek Commodity Exchange announces weekly quotes of commodities for export
Iran able to provide uninterrupted gas supply countrywide, minister says
Georgia stays on track with hazelnut exports as both value and volume grow
Russia, Azerbaijan have huge potential to further strengthen bilateral ties - ministry
NCOC talks Kazakhstan's Kashagan development plans for 2022
Kazakhstan to take measures for privatization of Samruk-Kazyna Fund's assets
Global unemployment will total 207 mln people in 2022, 21 mln more than in 2019 — UN
Kazakhstan names total amount of damage from riots in Almaty
Uzbek Kapitalbank opens tender for purchase of spare parts for NCR ATMs
Georgia sees increase in money inflow in 2021
Uzbekistan reduces amount of compensation paid for travel companies and air carriers
Kazakhstan unveils foreign trade structure with EAEU countries for 11M2021
Georgia’s records increase in exports, imports – Galt & Taggart
Iran seeks to continue its oil-related projects with China
Decree signed: Georgia's initiative to allow Turkey into its pharma market taking shape
Iran sending commercial delegation to Iraq
India's main cities record sharp fall in COVID-19 infections
Eurostat names Turkmenistan-Poland trade volume
Turkmenistan eyes to join Organization for Cooperation of Railways’ agreements
President Ilham Aliyev meets in video format with Speaker of Parliament of Montenegro Aleksa Bečić (PHOTO/VIDEO)
Why developments in Kazakhstan matter for global oil & gas market?
Uzbekistan increases frequency of trains on Tashkent-Bukhara route
Iran reveals COVID-19 data for January 17
Iran, China to sing exclusive contracts within 25 year deal
VTB Bank Azerbaijan opens tender to renew Web Application Firewall licenses
Training sessions with commanders held in Azerbaijan (PHOTO/VIDEO)
Sale of currency at weekly auctions of Central Bank of Azerbaijan has no impact on Eurobonds - Gazprombank
Kazakhstan Railways company to buy spare parts for elevator
Russia documents 30,726 daily COVID-19 cases, highest number since December 10
First regular bus trips to Azerbaijani's liberated lands may be launched soon
Population’s expenses on pharmaceutical products increase in Azerbaijan for 2021
Hydrogen to lead to emergence of new centers of geopolitical influence – IRENA
Iran to set up underwater pipeline to supply gas to Qeshm Island
Iran opens container shipping route to India
Kazakhstan Railways opens tender to buy spare parts
Azerbaijan changes amounts of official salaries of non-state employees of state structures
ISIPO discloses number of enterprises re-launched in Iran
Kazakhstan's trade with EAEU countries growing
Hydrogen to cover over 10% of global energy use by 2050
Georgia’s construction equipment vendor to represent UK company in Azerbaijan
Azerbaijan Army's engineering units manage movement on snowy roads in liberated lands (VIDEO)
Kazakhstan increases total production, import volume of cereals
Azerbaijan increases monthly salaries of senior sports scouts
TAP’s technical forward capacity by Jan.23
Physical gas flows, nominations at TAP’s interconnections
Central Bank of Iran to test using cryptocurrency for int'l trade transactions
Azerbaijan mine-clearing report for its liberated lands
Overall index of Tehran Stock Exchange drops 11,000 points
Iran keen to boost loading/unloading operations at Amirabad port
Turkish export of electrical goods to Azerbaijan rises in 2021
Executive Power of Azerbaijan’s Baku city opens tender to buy spare parts for trucks
Iran’s Bouali Sina Petrochemical Company sees surge in production
UAE's Mubadala invests $100m in Israeli VC firms
Georgia shares data on visitor inflow from Iran
Tatneft to improve well flow rate in Turkmenistan’s oil fields
SOCAR Energy Ukraine reveals plans for 2022
Number of Turkish jobseekers in Uzbekistan revealed for 2021
Turkey sees increase in number of real estate purchased by Kazakh citizens in 2021
Number of Turkish jobseekers in Kazakhstan drops in 2021
SOCAR Energy Ukraine’s fuel sales returning to pre-crisis level
Easing of budget policy in Kazakhstan may weaken national currency - forecast
Georgia publishes COVID-19 data for January 17
New urgent talks needed with Azerbaijan if IGB is delayed – Bulgargaz
Azerbaijan shares data on volume of mortgage lending
Real estate prices in Azerbaijan expected to grow - expert
Iran eyes new money transfer methods in trade with Russia
Iran launches Car Tax Collection website
Goyal assures full support to IT firms in pushing growth, exports to $1 trn
India's vaccination drive completes 1 yr, Centre launches stamp
Iran's Energy Exchange announces products to be on sale on January 17
Azerbaijani currency rates for January 17
Weekly review of Azerbaijani oil market
Azerbaijan records increase in industrial production for 2021
India Inc expects 2022 to be growth wear
India’s tourism gets a huge push at Expo 2020 Dubai
Iranian currency rates for January 17
Khizi-Absheron wind farm to allow Azerbaijan to increase export of gas - expert
Iran shares data on power generation capacity of HPPs
All news