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- U.S. and Indian government officials will hold talks to resolve their differences over trade and investment.
- India and the United States have differences over a range of issues like a) India’s new rules on e-commerce that affected firms such as Amazon and Walmart b) Data localisation rules which forced foreign companies to store their data locally and c)Trade imbalance between India and US.
- The meeting comes at a time when the US is reviewing India’s eligibility as a beneficiary of its Generalised System of Preferences (GSP).Further, trade tensions are on the rise due to US imposition of higher import tariffs on steel and aluminium, which affected several countries, including India.
- Generalized System of Preferences (GSP) is a preferential tariff system extended by developed countries to developing countries which allows zero tariff imports from developing countries.
