Commerce minister Piyush Goyal has called for restoration of benefits under the US’ Generalized System of Preferences. The Trump administration removed India from GSP list in June 2019.
Commerce and Industry Minister Piyush Goyal and US Trade Representative Katherine Tai hold India-US Trade Policy Forum, four years after it was junked by Trump administration.
Katherine Tai is embarking on her maiden visit to India as US Trade Representative later this month. The two sides will resume the Trade Policy Forum after a gap of four years.
Biden administration’s focus on China and sticky issues relating to India’s reluctance to provide greater market access has meant the trade deal is off the table for now.
US had last March proposed retaliatory trade actions against India and other countries that imposed or were considering equalisation levy/digital services tax on e-commerce firms.
According to 2021 National Trade Estimate Report on Foreign Trade Barriers, the US goods trade deficit with India was $23.8 billion last year, a 1.7% increase over 2019.
US Ambassador to India Kenneth Juster, whose tenure ends this month, highlights issues of growing market access restrictions, increasing tariffs, limitations on free flow of data.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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