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India-US meet over trade issues
Why in the news ?
- Commerce Ministry officials at the Joint Secretary level and delegation from US is to discuss ways forward to resolve the escalating trade issues between the U.S. and India.
More on news
- The meetings come against the background of India’s recent notification of higher import tariffs for 29 goods originating in the U.S.
- However, the implementation date for these higher tariffs was set as August 4, leaving room for other solutions that could arise through dialogue.
- The two key issues on the agenda are India’s notified tariffs on U.S. imports, and duties on medical devices.
- While India had earlier this month written to the World Trade Organisation informing it of its decision to impose tariffs on U.S. imports amounting to $240 million, the actual notification set the implementation date as August 4.
- In addition, the notification left out the proposed increased tariffs on highcapacity motorcycles, such as those manufactured by Harley Davidson, tariffs on which were a sore point highlighted by U.S. President Donald Trump.
Source
The Hindu