{"id":98415,"date":"2021-03-30T15:39:40","date_gmt":"2021-03-30T10:09:40","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=98415"},"modified":"2021-03-30T21:32:51","modified_gmt":"2021-03-30T16:02:51","slug":"india-and-us-agrees-to-resolve-key-trade-issues","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/india-and-us-agrees-to-resolve-key-trade-issues\/","title":{"rendered":"India and US Agrees to Resolve key Trade Issues"},"content":{"rendered":"\n<h5><strong>What is the news?<\/strong><\/h5>\n<p>India and the United States have agreed to work constructively to resolve key outstanding trade issues. Further, they also aim to take a comprehensive look at ways to expand the trade relationship.<\/p>\n<p><strong>What are the major India-US trade issues?<\/strong><\/p>\n<ol>\n<li><strong>Generalised System of Preferences(GSP): <\/strong>In 2019, the US removed India from the GSP programme. This move adversely affected India\u2019s exports to the US.\n<ul>\n<li><strong>GSP: <\/strong>It is a preferential tariff system that allows concessional low\/zero-tariff imports from developing countries.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Tariffs<\/strong>: High Tariffs on steel and aluminium imports from India.<\/li>\n<li><strong>Services<\/strong>: India has concerns over US visa policies. It has affected Indian nationals working in the United States<\/li>\n<li><strong>Agriculture: <\/strong>The Sanitary and phytosanitary (SPS) barriers in India limit US agricultural exports.<\/li>\n<li><strong>Forced Localisation: <\/strong>The US has opposed India\u2019s \u201cforced\u201d localisation practices such as in-country data storage, domestic content, and domestic testing requirements.<\/li>\n<li><strong>E-commerce rules:<\/strong> The US has concerns regarding India\u2019s e-commerce rules. As the new E-commerce rule imposed restrictions on how e-commerce platforms such as Amazon and Walmart owned Flipkart conduct business.<\/li>\n<li><strong>Intellectual Property(IP):<\/strong>\u00a0India remains on the <a href=\"https:\/\/forumias.com\/blog\/india-remains-on-u-s-priority-watch-list\/\">\u201cSpecial 301\u201d Priority Watch List<\/a> based on concerns such as its treatment of patents, infringement rates and protection of trade secrets.<\/li>\n<\/ol>\n<h5><strong>Organizations involved in India-US trade issues<\/strong><\/h5>\n<p>There are two major trade organisations involved in trade-related matters in the US. They are,<\/p>\n<p><strong>Office of the United States Trade Representative (USTR) <\/strong><\/p>\n<ol>\n<li><strong>Office of the <a href=\"https:\/\/forumias.com\/blog\/what-is-ustr-what-are-their-powers\/\">United States Trade Representative(USTR)<\/a><\/strong> is a government agency. It is responsible for developing and recommending international trade policy to the US president.<\/li>\n<li><strong>Significance: <\/strong>The USTR directly negotiates trade agreements and resolving trade disputes with foreign governments. Apart from that they also participate in global trade policy organizations.<\/li>\n<li><strong>Powers: <\/strong>The US Trade Act gives the USTR broad authority to investigate and respond to a foreign country\u2019s action. These actions include unfair or discriminatory practices as well as policies that negatively affect US commerce.<\/li>\n<li><strong>Reports: <\/strong>The USTR publishes few major annual reports. Such as\n<ul>\n<li>National Trade Estimate Report<\/li>\n<li>The Special 301 Report \u2013 identifies trade barriers to United States companies and products.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<h5><strong>India-US Trade Policy Forum:<\/strong><\/h5>\n<ul>\n<li><strong>Setup in: <\/strong>India US Trade Policy Forum (TPF) was set up in 2005 and reconstituted in 2014.<\/li>\n<li><strong>Purpose: <\/strong>It is primarily designed to work for expanding bilateral trade and investment between India and the US.<\/li>\n<li><strong>Nodal Agencies: <\/strong>Minister of Commerce &amp; Industry, Government of India, and Office of the US Trade Representative are the nodal agencies.<\/li>\n<li><strong>Chaired by: <\/strong>The Commerce and Industry Minister on the Indian side and USTR on the US side co-chair it.<\/li>\n<\/ul>\n<p><strong>Source: <\/strong><a href=\"https:\/\/epaper.thehindu.com\/Home\/MShareArticle?OrgId=G2R8DTGRQ.1&amp;imageview=0\"><strong>The Hindu<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the news? India and the United States have agreed to work constructively to resolve key outstanding trade issues. Further, they also aim to take a comprehensive look at ways to expand the trade relationship. What are the major India-US trade issues? Generalised System of Preferences(GSP): In 2019, the US removed India from the&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/india-and-us-agrees-to-resolve-key-trade-issues\/\">Continue reading <span class=\"screen-reader-text\">India and US Agrees to Resolve key Trade Issues<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,164,9],"tags":[1333],"class_list":["post-98415","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-international-relations-daily-factly-articles","category-public","tag-ir_0","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1700534253},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/98415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=98415"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/98415\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=98415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=98415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=98415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}