India and the US are negotiating a trade deal to resolve certain issues and promote two-way commerce.?
India is expecting substantial outcomes from US president Donald Trump¡¯s visit, the possibility of a mini trade agreement during his visit and higher investment commitments from American companies and? industry groups.?
India is in demand of the exclusion of high duties which are imposed by the US on certain steel and aluminium products, restarting of export benefits to certain domestic products under the Generalised System of preferences and greater market access for its product from few sectors such as agriculture, automobile, auto components and engineering.?
While on the other hand, the US wants a little more access for marketing the manufacturing products, dairy items and medical devices, data localisation, and cutting on import duties on some information and communication technology products. The US also has raised concerns over the high trade deficit with India.
The US wants India to have a level playing field for international digital services such as credit cards. India govt has delayed the negotiation American unwillingness to allow testing of Dry Distilled Grain Soluble (DDGS) poultry feed for live? ¡°GM¡± Components.?
While the tough talks were going on, the US trade representative 'Robert Lightizer' called off his visit to India. The mini-deal is the most important to trump as he heads into election and to show how his stance has improved the commerce for the US. The current situation presents an opportunity as the US president would like to have a deal. This trade part can be added to the list of Trump's list of achievements that reflects better deal for US products.?
The sources said that the Indian representatives are interested in getting the deal done, but both sides apparently remain at a distance from each other. S. Jaishankar met a few people like the US speaker of the House of Representatives ¡®Nancy Pelosi¡¯ and another congressional delegation which was led by 'Jim Inhofe' who is the head of the Powerful Armed Services committee. He spoke on the same and said ¡°Discussed our growing strategies cooperation. Value their interest in building the ties.??
In another tweet Jaishankar tweeted about his meeting with foreign minister of Saudi? ¡°Was a pleasure to meet His Highness Prince Faisal bin Farhan Al Saud, Foreign Minister of Saudi Arabia. Appreciated his perspectives on global and regional issues. Look forward to working with him in the Strategic Partnership Council.¡±?