India, US Talk GSP, Medical Devices, Targeted Tariff Reductions
U.S. Trade Representative Katherine Tai and Indian Commerce Minister Piyush Goyal did not announce any breakthroughs after their Jan. 11 meeting, but their joint statement pointed to some trade irritants that might be resolved in the future.
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The statement said they have recently intensified work to find solutions on outstanding World Trade Organization disputes between them, and said they want to arrive at "satisfactory outcomes in the coming months."
India expressed its interest in becoming eligible again for the Generalized System of Preferences benefits program. "The United States noted that this could be considered, as warranted, in relation to the eligibility criteria determined by the U.S. Congress," the statement said.
India was removed from GSP over U.S. complaints on price controls on cardiac stents and knee implants, and barriers to U.S. dairy exports. The statement said that the U.S. agreed that India's policy on pricing those goods had been positive during the pandemic. "They also agreed to continue to exchange views on pricing issues for cardiac stents and knee implants that would facilitate access to cutting edge medical technology at affordable prices to the patients."
On agriculture, they acknowledged there's still work to do to lower barriers for products from both sides.
The statement also said, "The United States and India also exchanged views on potential targeted tariff reductions."