Free Trade Agreement Between India And Us
The initial phase of the India-U.S. trade agreement is expected to focus on agriculture. We are trying to look at how several commodities covered by the India-U.S. free trade agreement would be affected. 29 Reuters, „China proposes standards for hormone residues in beef under U.S. trade agreement,“ March 12, 2020, www.bilaterals.org/?china-proposes-standards-on Indian Minister of Trade and Industry stated that the government had withdrawn from the RCEP trade negotiations because it had failed to address the sensitivities of Indian milk producers, farmers and other industrial sectors.58 It would be inconsistent and hard to begin trade negotiations between the United States and India, which would pose great challenges to rural Indian and Indian communities. Such an agreement would seriously jeopardize the wide variety of India`s local seeds and plants, which are conserved and reused annually by millions of Indian farmers. It will also destroy India`s hope for food sovereignty. It is time for Indian farmers to stand up and oppose any possibility of formalizing the trade agreement between the United States and India now or in the future. Nevertheless, in recent years, the policy of trade relations between the two countries has been tarnished by deep differences of opinion on issues such as agricultural subsidies, intellectual property rights, milk and, more recently, tariffs and market access. Much of this struggle has been fought in the World Trade Organization (WTO). But the interests of U.S.
companies, such as dairy companies, continue to pressure Washington and submit petitions against India to the U.S. Trade Representative`s office (USTR) for „missing reasonable and reasonable access to its market.“2 Now the Trump administration wants to go directly and reach a deal with Modi. Given The trade agreements Trump has signed over the past three years with South Korea, China, Canada and Mexico, it is clear that an agreement between the United States and India will be bad news for India`s agricultural sector. Typically, trade agreements, including the one with the Association of South Asian Nations (Asean), have not worked in India`s favour, but experts felt that New Delhi should not only remain in common with other countries to stimulate trade, but also to be heard within the international community. Foreign Minister Harsh Shringla`s seven-day trip to Europe a few weeks ago is seen as an important development in this direction. On Thursday, the first autonomous summit between Prime Minister Narendra Modi and his counterpart Xavier Bettel was held via videoconference, the first highlighting the need to expand trade and economic cooperation between India and the EU.