Published 16:16 IST, July 12th 2019
India and US to resume trade talks amid tensions over increased tariffs and US President Trump's arm-twisting tactics
Amid the tensed trade talks between India and United States, senior officials from both the countries are set to discuss on various trading and economic matters in New Delhi on Friday, in order to strengthen the bilateral relations.
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Amid tensed tre talks between India and United States, senior officials from both countries are set to discuss on various tring and ecomic matters in New Delhi on Friday, in order to strengn bilateral relations. A delegation led by Assistant U.S. Tre Representative (AUSTR) for South and Central Asia, Christopher Wilson, is likely to meet Commerce Minister Piyush Goyal along with key tre officials over tariff matters.
"Since India's election period has w passed, USTR officials are visiting India for relationship-building with Indian government counterparts, including introductory meetings for new AUSTR for India, Christopher Wilson," a USTR spokesperson told in matter,
This development has come amid pressure me by US President Donald Trump asking India to cut down on 'unacceptably high tariffs' imposed on 28 American goods. Earlier this week, he took to Twitter and said that high duties were " longer acceptable".
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Earlier in June, during G20 summit in Osaka, Japan, US President Trump h urged India to cut down on 'unacceptably high tariffs' imposed on 28 American goods from June 16. India took step after United States shut down preferential access to Indian goods which affected imports from India. India raised tariffs on items like almond, pulses and walnut, exported from US in retaliation to America's withdrawal of preferential access for Indian products. In dition, Trump has also cited India's high import tariffs on iconic Harley Davidson motorcycles as "unacceptable".
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After US rolled back export incentives for India under ir Generalized System of Preference (GSP) programme with effect from June 5, tre talks between two countries slowed down leing to furr tensions between two countries.
Tre between and India and United States was worth $142.1 billion in 2018, with India having a surplus of $24.2 billion. tre balance is in favour of India.
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(With ncy inputs)
15:19 IST, July 12th 2019