United States and India committed to strengthen economic security alignment, says White House

White House has released a fact sheet regarding trade deal between the United States and India. It noted that leaders of both countries reached a framework for an Interim Agreement on reciprocal trade and reaffirmed their commitment to broader U.S.-India Bilateral Trade Agreement (BTA) negotiations. The United States and India committed to strengthen economic security alignment to enhance supply chain resilience and innovation through complementary actions to address non-market policies of third parties as well as cooperating on inbound and outbound investment reviews and export controls. The United States and India will significantly increase bilateral trade in technology products and expand joint technology cooperation. In line with the roadmap set out in the Terms of Reference for the BTA, the United States and India will continue negotiations to address the remaining tariff barriers, additional non-tariff barriers, technical barriers to trade, customs and trade facilitation, good regulatory practices, trade remedies, services and investment, intellectual property, labor, environment, government procurement, and trade-distorting or unfair practices of state-owned enterprises.

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