Indian Economy News

India's tariff removal on several US products benefiting farmers: USTR

  • IBEF
  • April 19, 2024

US Trade Representative, Ms. Katherine Tai announced India's removal of retaliatory tariffs on multiple US products, facilitating access to chickpeas, lentils, almonds, walnuts, and apples, benefiting farmers nationwide. She highlighted this during her testimony before the House Ways and Means Committee Hearing on the President's 2024 Trade Policy Agenda, underscoring India's agreement to lower tariffs on several US products, resolving their last outstanding World Trade Organisation (WTO) dispute in September.

The resolution also entails increased market access for American agricultural goods like turkey, duck, blueberries, and cranberries, benefiting farmers in North Carolina, Pennsylvania, Virginia, and Wisconsin. This significant agreement, announced during President, Mr. Joe Biden's meeting with Prime Minister, Mr. Narendra Modi in New Delhi ahead of the G20 Leaders' Summit, marked the conclusion of negotiations initiated during Prime Minister, Mr. Narendra Modi's state visit to the US in June, where India also committed to reducing tariffs on various US goods, including agricultural produce and diagnostic reagents.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.