India

A group of House lawmakers is eyeing a potential high-level meeting between the U.S. and India as an opportunity to push for an “early harvest” deal that reinstates certain benefits previously afforded to New Delhi under the Generalized System of Preferences in exchange for market access.

Four countries, three of which are openly opposed to renewing the World Trade Organization moratorium on duties on electronic transmissions, would lose more in gross domestic product than they would gain in tariffs if the moratorium were lifted, according to a new study.

U.S. and Indian officials hope to hold a high-level, high-stakes meeting in Washington, DC, before the end of the month, which could determine the direction of the trade relationship between the two countries, according to industry sources.

The U.S. and India should set an ambitious goal for their trading relationship to better manage trade tensions between the two countries, the head of a major business group tells Inside U.S. Trade.

The U.S. and India are at a “pivotal juncture” in their trade relationship, Deputy U.S. Trade Representative Jeffrey Gerrish said on Thursday, acknowledging the possibility of additional U.S. trade actions – including a Section 301 investigation – if New Delhi moves ahead with policies the U.S. has deemed unacceptable.

A delegation from the Office of the U.S. Trade Representative is slated to travel to India next week to resume trade talks that fell apart earlier this year, according to reports and sources.

India, South Africa and five other countries have proposed that World Trade Organization members consider additional flexibilities for developing members to meet their notification obligations, arguing that, given the difficulty of meeting current commitments, no new obligations should be considered.

Pompeo: “We said we’re going to do our best to make sure that all the right people get in all the right places and work through these problem sets so that we can get out of this and get on with the business of growing each of our two economies.”

India last week proposed exemptions to restrictions on fisheries that would apply to all developing and least-developed World Trade Organization members and allow them to subsidize some fishing activities that occur up to 200 miles offshore, without restriction.