US Trade Representative Calls India a 'Tough Nut' in Ongoing Trade Negotiations
‘India A Tough Nut To Crack’: US Representative As New Delhi Stands Its Ground In Trade Talks
News 18
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During recent trade talks in Washington, US trade representative Jamieson Greer described India as a 'tough nut to crack' as negotiations continue for a formal trade agreement. The discussions, led by Indian Additional Secretary Darpan Jain, aim to address tariff disputes and expand market access, with a target of achieving bilateral trade of USD 500 billion by 2030.
- 01US trade representative Jamieson Greer highlighted India's strong position in trade negotiations.
- 02The talks focused on tariff disputes and expanding market access for various commodities.
- 03Both nations aim for a bilateral trade agreement (BTA) targeting USD 500 billion by 2030.
- 04India seeks preferential access to US markets as part of the agreement.
- 05The US has agreed to reduce tariffs on Indian goods significantly.
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In recent trade negotiations held in Washington, US trade representative Jamieson Greer remarked that India is a 'tough nut to crack' due to its longstanding protection of agricultural markets. The discussions, which involved a 12-member Indian delegation led by Darpan Jain, focused on finalizing a formal trade agreement that seeks to address tariff disputes and expand market access for products like distillers dried grains (DDGs), soybean meal, and ethanol. Greer noted that while India is protective of its agricultural sector, there are areas where mutual agreement can be reached. The negotiations are part of a broader effort to establish a Bilateral Trade Agreement (BTA) aimed at enhancing economic cooperation, with a target of achieving bilateral trade worth USD 500 billion by 2030. The US has committed to reducing tariffs on Indian goods from 50% to 18%, and has already removed a 25% tariff on Indian goods related to Russian oil purchases. The ongoing discussions reflect the commitment of both countries to strengthen their trade relationship.
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The trade agreement could lead to increased market access for Indian products in the US, benefiting exporters and potentially lowering prices for consumers.
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