U.S. Trade Representative Katherine Tai on Monday cited market access restrictions, high tariffs, unpredictable regulatory requirements and restricted digital trade measures as key issues with India and highlighted the huge trade potential between the two economies in areas such as the digital economy, services, health. – trade and agriculture linked.
“These are issues we need to move forward and they will be high on my list while I am here. I also look forward to discussing how increased collaboration on what we call worker-centric policies can benefit our trade relations,” Tai said at the relaunch of the Trade Policy Forum between the United States and India (TPF), pointing to a ”change in US trade policy that would ensure that its policies and actions focus on the impact that trade and trade agreements would have on real workers.
“The commercial relationship between our two countries is a top priority for both President Biden and me. That is why it was important for me to come to India and revive the Trade Policy Forum on my first trip to Asia,” she said.
The TPF was created to foster these same activities, Tai said. “I know that all of you in this room are equally invested in business relationships. You work hard to build business ventures, navigate the trading system and strengthen ties between our countries on a daily basis,” she said.
Tai said the United States and India face “common challenges” in areas such as climate change and sustainability, vulnerable supply chains, and promoting market-oriented principles and structures. . “These are areas that are now ripe for closer collaboration,” she said.
Speaking on the occasion, Minister Goyal said: “We have been uniquely charged by our leaders, Prime Minister Modi and President Biden, to strengthen our economic ties and trade based on transparency and fairness. .”
Goyal emphasized the principle of equity when negotiating trade agreements between a highly developed country and a developing country like India. “Of course, I’m sure you will bear in mind the vastly different level of prosperity between the American people and the Indian people, and the shared vision of working for the mutual prosperity of the peoples of our two nations,” he said. -he declares. .
“A confident and self-reliant India, willing to expand its engagement with the rest of the world, opening our doors even wider through trade and economic ties. I believe that India’s competitive advantages in terms of cost, skilled labor and huge domestic market demand, combined with US innovation and investment, can become a winning partnership.” he declared.