31 C
Kuwait City
July 21, 2019
Gulflance
Home » Amid escalating trade tensions, US, India begin talks
Khaleejtimes Business International

Amid escalating trade tensions, US, India begin talks

This is the first engagement between the two sides on trade issues after Modi met with Trump in Osaka.

India and US trade officials held talks on Friday in a bid to resolve the pertaining trade differences.

The US delegations headed by Assistant USTR for India Christopher Wilson reached New Delhi on Thursday.

The delegation also includes Deputy Assistant USTR Brendan Lynch. The two sides are holding a comprehensive dialogue in the Commerce and Industry Ministry with the Additional Secretary. This is the first engagement between the two sides on trade issues after Prime Minister Narendra Modi met with Trump in Osaka on the sidelines of G20 Summit last month.

Trump has repeatedly raised the issue of India putting high import duties on American products. The trade tensions between the two nations escalated on June 5 when Washington rolled back the privileges that New Delhi was enjoying under their GSP or Generalised System of Preferences programme.

The GSP, implemented since 1974, is the largest and oldest US trade-preference scheme and it allows duty-free imports for thousands of products from designated beneficiary countries.

On its part, India had imposed retaliatory tariffs on 25 American goods, less than two weeks after the Trump administration announced an end to the preferential trade treatment for India.

India on Thursday said that it seeks very constructive and positive engagement with the US counterparts.

“Meeting with the US delegation is underway as we speak. There was a meeting followed by lunch, in the afternoon, and also it will resume again. It was decided in Osaka, where Prime Minister Modi and President Donald Trump met, that officials from both sides will meet to resolve all outstanding issues related to trade very soon,” External Affairs Ministry spokesperson Raveesh Kumar said at the weekly briefing.

During the visit of US Secretary of State Mike Pompeo to New Delhi last month, India and the US had acknowledged there were issues between the two countries on trade and committed themselves to remove differences between them.

After talks with Pompeo, External Affairs Minister S Jaishankar had told the media that both the countries should take “constructive and pragmatic view” on the issues pertaining to trade.

MORE FROM International

  • India


    This is the first engagement between the two sides on trade issues… READ MORE

  • Rest of Asia


    The attack took place in Pachirwa Agham district of Nangarhar… READ MORE

  • India


    He accidentally slipped where the water was deep and drowned as he… READ MORE

  • Pakistan


    The news channels were put off air reportedly on the orders of… READ MORE

MORE FROM Khaleej Times

  • Dubai


    Some families are in severe financial distress after their loved… READ MORE

  • MENA


    The announcement came just hours after the Sudanese military claimed… READ MORE

  • Americas


    The statement came after London accused Iran of deploying military… READ MORE

  • Economy


    The move came into effect on July 1. READ MORE


Source link
Click here to read more news from @khaleejtimes

Related posts

Baahubali actor’s movie release delayed by two weeks – News

KT Mobile

India vs West Indies: 5 youngsters who can make their India debut in the West Indies series | cricket

HindustanTimes

A world show for Opera Aida at Hatshepsut Temple in Oct.26.28

gulflance

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Please spend a minute

Gulflance Poll

Which is worst social media?
Vote Now
close-link
Sign-up for exclusive content. Be up to date with Gulflance
Subscribe
Subscribe
close-image

You're currently offline