New Delhi: United States Trade Representative Katherine Tai has raised market access restrictions, high tariffs, unpredictable regulatory requirements and restricted digital trade measures as key issues with India and underscored the huge potential of trade between the two economies in areas such as digital economy, services, health-related trade and agriculture.
“These are issues we need to make progress on and they will be on the top of my list while I’m here. I’m also looking forward to discussing how further collaboration on what we are calling worker-centric policies can benefit our trade relationship,” Tai said on the occasion of reviving the US-India Trade Policy Forum (TPF), pointing at a “fundamental” shift in US trade policy that would ensure focus of its policies and actions on the impact that trade and trade agreements would have on real working people.
“The trade relationship between our two countries is a top priority both for President Biden and for me. That’s why it was important for me to come to India and relaunch the Trade Policy Forum on my first trip to Asia,” she said.
The TPF was created to foster these same activities, Tai said. “I know that all of you in this room are similarly invested in the trade relationship. You are putting in the hard work to build commercial ventures, navigate the trading system and strengthen ties between our countries on a daily basis,” she said.
Tai said the US and India face “shared challenges” in areas like climate change and sustainability, vulnerable supply chains and promoting market oriented principles and structures. “These are areas are ripe for closer collaboration now,” she said.
Speaking on the occasion, Union minister Piyush Goyal said: “We have been uniquely tasked by our leaders, PM Modi and President Biden, to strengthen our economic ties, and trade based on transparency and fairness.”