Make In India Key To Challenges In Trade Ties, Says US
source: clearias.com
The Biden administration’s first substantive report outlining its trade agenda and policies has said that Prime Minister Narendra Modi’s Make in India initiative ‘epitomized’ the trade-restrictive challenges — as seen by the United States — confronting trade ties between the two countries. Opening up markets and removing trade barriers will be a ‘priority’ in President Joe Biden’s trade agenda, it added.
The report sent to US Congress — titled ‘2021 Trade Policy Agenda and 2020 Annual Report’ — detailed the negotiations that took place between the two countries on an interim trade agreement over 2019-2020, calling it a ‘package of meaningful market access outcomes’, but offered no clues to how the new administration sees them and how it would like to proceed.
India has called for talks on a ‘fresh package’, and to this time go beyond the ‘nitpicking’ and the constant shifting of the goalpost that characterized the Trump administration’s approach.
The report identified ‘long-standing market access impediments affecting US exporters’ as the key continuing American ask and concern. Trade frictions between the two countries, which exert the weightiest drag on ties that are otherwise on an upward trajectory, have outlasted several administrations in both countries, irrespective of the parties in power.
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