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India-U.S trade relations
Why is it in news?
- The State Department reacted to India’s announcement of retaliatory tariffs on certain U.S. imports, reiterating U.S. President Donald Trump’s message of reciprocal trade and the strength of U.S.-India ties.
More in news
- Reaction:(1) U.S State Department said that India is one of our closest strategic partners in the Indo-Pacific region.(2) The U.S.-India partnership stands upon a shared commitment to democratic values and the rule of law.
- Challenges in the Indo-U.S. relationship: These are - U.S.’s preferential trade access system, the Generalized System of Preferences (India was recently taken off the beneficiary list as of June 5), 5G network infrastructure, and data localisation.
- 5G issue and data portability:(1) U.S. is trying to dissuade countries from letting Chinese telecom giant Huawei participate in building their next-generation networks citing security concerns.(2) The U.S. is also concerned about the direction in which India’s policies with respect to data portability across borders is going and that has become one of the areas of disagreement in trade discussions.
Source
The Hindu