India and the US in the recent trade negotiations in New York have failed to even arrive at a limited trade deal. The deal staggered over the duties imposed by India on Information and Communication Technology Products. The US wanted the 20% duty on mobile and ethernet switches to be reduced or eliminated. Also, America had called for greater access to the Indian market for medical devices, diary and agricultural products. These are sensitive products in the political perspective for India as the current government has promised to make them affordable. If the Indian government loosens trade restriction on these products, the price of these products will be increased. India, on the other hand, had called for the restoration of the Generalised System of Preferences. As for the full-scale trade talks, it would involve sensitive issues like H1B visas, intellectual property and e-commerce. Currently, even limited trade deal between India and the United States seems to be a challenge. Both sides must put aside these minor differences for achieving the common strategic interests of both the nations.
India, US, Japan, and Australia share a vision of a free and open Indo-Pacific. Quad is an opportunity for such like-minded countries to share notes and collaborate on projects of mutual interest.
Earlier this year, the senior officials of QUAD met at Bangkok, Thailand to reaffirm the commitments made in 2017 on keeping critical routes of Indo-Pacific free from influence and provide rules-based order within the region.
Reading Time:4mins As President Donald Trump showed the intention of the United States to withdraw the Generalised System of Preferences, popularly referred to as GSP, from India, IAS EXPRESS takes a look at the programme, its benefits and what it means now that it may be revoked.
Reading Time:5mins The US has decided to withdraw 7,000 out of its 14,000 troops from Afghanistan. The American troops contribute to training and advising local forces fighting the Taliban and ISIS. Trump’s sudden announcement has raised speculation that it could be linked to his pre-election promises to pull out from external wars to save money to consolidate internally. It also signals that the US has perhaps admitted being defeated in Afghanistan and that it had agreed to the Taliban’s demands. This decision is strengthened by the recent talks between the US and Taliban in Doha which has resulted in a framework for a peace agreement, focussed on ending the 17-year-old conflict in Afghanistan.
Reading Time:5mins The United States has broadly agreed to grant India and 7 other countries a waiver from the sanctions it re-imposed on Iran recently. This decision provides some temporary relief to India and avoids any major oil price shocks.
The United States President Donald Trump has recently announced that US will unilaterally pull out of 1987 Intermediate-Range Nuclear Forces (INF) Treaty which was signed by the US and Russia during Cold War era for banning all ground-launch nuclear missiles with the range between 500 and 5500 km. However, US accuses Russia to have developed a new medium-range missile and it has also been concerned about China which is not a signatory to the INF treaty, producing medium-range missiles.
Reading Time:4mins On September 30, 2018, the US, Canada, and Mexico signed a new trade agreement to replace the old North American Free Trade Agreement (NAFTA) with the new deal known as the United States-Mexico-Canada Agreement (USMCA) or NAFTA 2.0.
Reading Time:5mins On September 20, 2018, U.S. and China have announced fresh tariffs on each other’s imports, aggravating the trade war further.
The European Union also joined the trade war recently, imposing tariffs on $3.3 billion…