The final outline of the trade agreement between America and India has been approved. Regarding which a joint statement was issued by both the countries. Now the statement of the United States Trade Representative (USTR) has come to light in this regard. In which it was said that the India-US trade agreement will expand access of American farmers and producers to new markets. US President Donald Trump is expanding access for American farmers and producers to one of the world’s largest economies under a trade agreement with India, the statement said. The agency responsible for developing and promoting US foreign trade policies further said that India has committed to eliminate or reduce tariffs on a wide range of all US industrial goods and agricultural products. ‘From nuts and dried distillate grains (DDGs) to red sorghum and fresh and processed fruits, the trade agreement will provide new market access for US products,’ USTR said in a social media post on Friday. ‘President Trump is expanding access for American farmers and producers to one of the world’s largest economies with India committing to eliminate or reduce tariffs on a wide range of all American industrial goods and agricultural products, remove long-standing non-tariff barriers to trade, buy more American goods and services, and purchase more than $500 billion worth of American products.’
New opportunities will be created for farmers and entrepreneurs: Greer
Hailing the deal, US Trade Representative Ambassador Jamieson Greer said President Donald Trump’s “deal-making” efforts are opening up one of the world’s largest economies to American workers and producers. “Today’s announcement reflects the deepening relationship between the United States and India as we create new opportunities for farmers and entrepreneurs in both countries,” Greer said in a statement.
India will also eliminate tariff barriers
The White House said in an India-US joint statement that the two sides have agreed to a framework for an interim agreement on mutual and mutually beneficial trade. Greer said Trump’s bargain is reducing tariffs on a wide range of all US industrial goods and agricultural products, while removing tariff and non-tariff barriers to open India’s market of more than 1.4 billion people to US products. He thanked Union Commerce and Industry Minister Piyush Goyal for his leadership and commitment towards achieving fair and balanced trade with the US.
