India hopes for trade fair and square with US
Sourse: dairynews.today
India may ease its stance on agricultural and dairy imports amidst ongoing trade talks with the US, aiming to finalize a deal before July 9.
In recent developments, India has suggested it might ease its traditionally tight restrictions on agriculture and dairy imports, specifically with the United States. The move comes as part of wider negotiations to secure a trade agreement before the current deadline of July 9.
This urgency is heightened by the recent finalization of trade deals between the US, China, and the UK. Indian officials have indicated that while the trade discussions will be broken down into different phases, the initial phase targets "low-hanging fruits" in the negotiations. A significant concern in the trade discussions is the 50% tariff on steel and aluminum, with India threatening retaliatory measures. Another critical point under discussion involves non-tariff barriers and concerns raised by the US regarding India's quality control standards.
A source from the commerce ministry stated that while negotiations are underway, it is inappropriate to disclose specific details at this stage. Nevertheless, the potential adjustment in policy toward US imports may mark a shift in India's trade strategy, promoting a more amicable trading relationship with the US.
This urgency is heightened by the recent finalization of trade deals between the US, China, and the UK. Indian officials have indicated that while the trade discussions will be broken down into different phases, the initial phase targets "low-hanging fruits" in the negotiations. A significant concern in the trade discussions is the 50% tariff on steel and aluminum, with India threatening retaliatory measures. Another critical point under discussion involves non-tariff barriers and concerns raised by the US regarding India's quality control standards.
A source from the commerce ministry stated that while negotiations are underway, it is inappropriate to disclose specific details at this stage. Nevertheless, the potential adjustment in policy toward US imports may mark a shift in India's trade strategy, promoting a more amicable trading relationship with the US.
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