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New York

Wed, 13 Nov 2019 15:16 GMT

US and India Proceed with Trade Talks amid Tariffs War


7Dnews London

Fri, 12 Jul 2019 11:11 GMT

US and Indian trade teams started negotiations on Friday as tensions mount over protectionist measures taken by both sides, AFP reported.

Assistant US Trade Representative Christopher Wilson met Indian commerce industry officials in Delhi on Friday, ahead of a meeting with Commerce Minister Piyush Goyal.

Foreign ministry spokesperson Raveesh Kumar said on Thursday that they aim to keep relations "positive" throughout the talks.

Earlier this week, Trump tweeted criticising India's tariff rules, saying that it has long had a field day putting tariffs on American products which is “no longer acceptable.”

Washington removed India from a list of countries that get duty-free access for more than $6 billion of imports to the US earlier this year. The move came on the back of higher US tariffs on Indian steel and aluminium.

India responded by adding additional customs duties on 29 US products, including almonds, walnuts and pulses, in June 2019.

India-US trade was worth $142.1 billion in 2018 with the United States $24.2 billion in deficit. The US-India Strategic Partnership Forum has predicted that trade will go up to $238 billion by 2025.

Last month, Donald Trump and Narendra Modi held bilateral talks in Japan on the sidelines of the G20 Summit.

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