India and U.S. very close to resolving all trade issues

India and the U.S. are very close to resolving all their trade-related differences, with Commerce Minister Piyush Goyal planning to meet the U.S. Trade Representative in the coming month, a senior Commerce Ministry official told The Hindu.

 

The focus now for the two countries is to calm the heightened tempers since almost all issues have been resolved, the official added. The core area of disagreement, market access, is also close to being resolved, he said.

 

All the issues that have happened, on aluminium, steel, retaliatory tariffs by us, are all done now, the official said on the condition of anonymity. The focus now is to look ahead and to calm the heightened tempers on both sides. The officials from our side and their side have been meeting regularly, and we are very close to seeing an agreement coming into place.

 

The key bone of contention between India and the U.S. is market access, the official explained, adding that this was at the bottom of most of the tensions between the two countries over the last year or so.

 

The market access issue will also be resolved soon, when the [Commerce] Minister meets the U.S. Trade Representative either late next month [August] or early the month after that, the official said. The Indian government is demanding greater market access in the U.S. for dairy products, medical devices, and information and communication technology (ICT) services, he added.