Search Result for : India Us Trade

The Dollar Business Bureau The US exports to India were increased by 18.7% and the trade deficit between the two nations has declined by nearly 6% in 2017 over the previous year, but still the US continue to complain on various issues including high tariffs and market access to several American goods being shipped to India. “The US goods trade deficit with India was $22.9 billion in 2017, a 5.9% decrease ($1.4 billion) over 2016,” according to the National Trade Estimate 2018, an annual report released by the United States Trade Representative (USTR). India is among the few nations with which the trade deficit of the US has dropped in the past one year. However, the US administration under President Donald Trump ...

The Dollar Business Bureau  The US Administration under President Donald Trump has recognized India as a foremost foreign policy priority, said Richard Rahul Verma, the former US Ambassador to India, mentioning that the credit for robust relations between the two countries goes to former US President Barack Obama and Indian Prime Minister Narendra Modi.  “I do think India has been recognized as a major foreign policy priority (in the Trump Administration) and one that from the president on down, people are vested in, and that’s very encouraging,” Verma told PTI.  “The overall relationship trajectory between the two has been pretty good,” he said.  “As you know, in the last two to three years of the Obama administration we made a lot of progress and all ...

The Dollar Business Bureau US and China failed to agree on major new steps to reduce US's trade deficit with China, leading to doubts over the economic and security relationship between the two countries. The annual economic session in Washington dubbed by the Trump administration as US-China Comprehensive Economic Dialogue (CED) ended with both the sides refusing to hold news briefs or joint statements with no news announcements on US market access to China. Though both the sides had open and frank talks, they failed to come to a consensus on major bilateral and economic issues that were important for the US. According to Reuters, US had asked for-  major access to China's financial services markets, reduction in China's steel capacity, reduction in auto tarriffs, ...

The Dollar Business Bureau The influential House Appropriations Committee in its report accompanying the annual Appropriations Bill 2018, said that several policies adopted by the Indian government to boost its economic growth, protect domestic manufacturing, actually discriminated against US exports and investments. 'India, while striving to improve its economic growth, has been enacting a series of policies to increase domestic manufacturing and protect domestic industries and agricultural production that discriminate against US exports and investment,' the Committee said. The report was prepared in conjunction with the US Commerce, Justice, Science and Related Agencies Appropriations Subcommittee that has several agencies under its control that combat gangs, drug trafficking, violent crime, terrorism espionage, financial fraud; enforcing trade laws; exploring science, space; managing fisheries etc. The Appropriations ...

The Dollar Business Bureau The US President urged the Indian Prime Minister to relax the trade barriers in order to reduce their trade deficit. Speaking to the media at the historic Rose Gardens in the White House both the leaders appeared to be at ease with one another and read out statements that portrayed the importance of a  strong US-India relationship. Watched by the world media, both the leaders stressed the strong commitment being made towards bilateral relations.  Prime Minister Modi said, “I deeply appreciate your strong commitment to the enhancement of our bilateral relations. I am sure that under your leadership a mutually beneficial strategic partnership will gain new strength, new positivity, and will reach new heights."  President Trump during his address made it ...

The Dollar Business Bureau  The Commerce Ministry on Tuesday said the bilateral trade was a "win-win" situation for both US and India though the balance of trade was not in America's favour.  Speaking to the media, Commerce Secretary Rita Teaotia said, “The US had started a review of its trade policy with countries with which it has adverse trade balance.”  "India is 9th on that list... but we are confident that Indian exports to the US are a win-win for both the countries," she said.  "Our products are cheaper, while the Indian information technology supports the American industry to be much more competitive," she added.  The Commerce secretary said that where the US government procurement rules required so, Indian companies, like in the pharmaceuticals sector, ...

PTI Indian-American Congressman Ro Khanna has said the US needs to "remain open" to immigrants who contribute to creating jobs and help shape the economy, as he called for "common sense" reforms in the H1B visa system. Khanna, who represents the Silicon Valley where a large number of Indians and other immigrants work, said many Americans believe the H1B visa programme needs to be reformed. "Of course, we have to end the abuses. We shouldn't have companies that have more than 50% H-1B visas and we should make sure that they are paid the prevailing wage," Khanna, a first-time Congressman, told PTI in an interview. "These are common sense reforms that even people like Venk Shukla (TiE Silicon ...

The Dollar Business Bureau The Trade Policy Agenda released by Trump administration for the year 2017 highlights the fast paced growth in US-India trade since 1980, when the total trade between the two nations was merely $4.8 billion. The US-India trade in goods and services has expanded by over 9% year-on-year to attain a figure of $109 billion in 2015, according to the document. The trade policy expresses optimism over future progress in bilateral relations, as India pushes through tax and economic reforms. The goods and services tax is welcomed, for it will lower transaction costs and integrate the internal Indian market. The annually released policy also said that India's new National Intellectual Rights Policy is expected to protect US ...