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US Ambassador to India Eric Garcetti announced on X (Formerly known as Twitter) that Trade Representative Katherine Tai will be in India from January 12 to 14 for the United States-India Trade Policy Forum. On the day she lands in India, Tai will be meeting India’s Minister of Commerce and Industry, Piyush Goyal, according to a press release issued by the Office of US Trade Representatives. After the meeting, she will be co-chairing the 14th Ministerial-level meeting of the US-India Trade Policy Forum.
This year, a broad set of issues to enhance the resiliency of the trade relationship, including agriculture, industrial products, services, and the protection of intellectual property, among other topics, will be discussed at the forum, as per the release.
@USTradeRep @AmbassadorTai will be in India next week for the U.S.-India Trade Policy Forum. Stay tuned as we highlight #USIndiaTrade partnership this week. #DYK, the U.S. has emerged as India’s biggest trading partner during the first half of the financial year 2023-24? The…
— U.S. Ambassador Eric Garcetti (@USAmbIndia) January 6, 2024
This forum plays a crucial role in strengthening and expanding the bilateral economic and trade relationship between the nations. It has helped in removing trade barriers and facilitated cooperation on some of the key issues under the leadership of Tai and Goyal.
After the forum, Tai will call upon the Union External Affairs Minister S Jaishankar.
On the following day, she will be calling upon civil society representatives, business leaders, and stakeholders to discuss the Biden-Harris Administration’s engagement and commitment to fostering closer ties between the US and India.
The trade relationship between both nations continues to grow stronger and reap beneficial harvests. Last year, both leaders reached several milestone agreements that delivered market access for American farmers and producers, and high-quality products to Indian consumers, read the press release.
The achievements of last year include a 70 per cent reduction of the tariff on pecans, the removal of retaliatory tariffs on almonds, chickpeas, apples, lentils and walnuts, boric acid, and diagnostic reagents. The list also includes commitments for additional tariff reductions on frozen turkey, and frozen duck, as well as fresh, frozen, dried, and processed blueberries and cranberries.
Both nations also reached agreements in order to resolve all seven of their outstanding World Trade Organization disputes.
The US emerged as India’s biggest trading partner during the first half of the financial year 2023-24. The US was India’s biggest trading partner in 2022-23 with bilateral trade rising 7.65% to $128.55 billion in 2022-23 against $119.5 billion in 2021-22, said Garcetti in his post.
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