Urban Mirror Correspondent
New Delhi, May 08: There is no possibility of escalation of trade tussle between US and India till the formation of new government. According to information US commerce secretary Wilbur Ross has hinted the two sides would maintain their positions in his speech at the Trade Winds business forum while pointing out about trade imbalance with India. “We applaud India’s commitment to addressing some of these barriers once the government is reformed, probably starting in the month of June,†he said.
The next course of action is likely only after formation of new government in June 2019. India’s main concerns include the US decision to enforce sanctions on oil imports from Iran, one of the country’s main energy suppliers, and the withdrawal of benefits under the Generalized System of Preferences (GSP) programme. Washington is concerned by the trade imbalance because of tariff and non-tariff barriers, and regulations that US officials say put foreign companies at a disadvantage. According to information India has explained to the US that strategic matters, including trade-related issues, can be effectively dealt with after the new government is formed.
