Representatives from both countries have been talking about easing trade issues for more than a year now, including tariffs etc.
Representatives agreed to come to a conclusion about making trade between the two giant countries easier on a US’s two day visit by their trade representative Katherine Tai. They talked about troubles faced in digital trade and about market access.
Ms Tai along with her deputy ambassador Sarah Bianchi, raised numerous topics such as high tariffs, restrictions on market access and digital trade and unpredictable rules. The two countries have been struggling for more than a year to find a conclusion but have been failing to do so.
Ms Tai said that these issues are her top priorities in this visit at a dinner hosted by Commerce Minister Piyush Goyal. Mr Goyal said “we have been tasked by our leaders PM Modi and President Joe Biden, to strengthen and make the trade more transparent and fair.” Ms Tai also talked about possible growth in booming sectors such as online economy, health services, food industry etc.
Both countries agreed to renew their Trade Policy Forum, after four years to help expand trade between the two countries like never before. It will strengthen the relationship between the two countries and make trade more simple with regular contact between the two countries.
This step was taken to move ahead in strengthening the quad group which includes India, US, Japan and Australia to reduce the influence of China in the market in the Asia-Pacific region.