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India working with US to resolve mutual trade issues

IANS  |  New Delhi 

is engaged with the US in "working out" issues arising from the latter's protectionist measures last month of raising duties on and imports, said on Tuesday.

US (USTR) was here for talks last week providing the first opportunity to put across its case for an exemption along the lines of the ones the US has allowed to Argentina, Australia, Brazil, Canada, and South Korea, as also the

"We are working with the US to address the trade issues...they are among our most important trading partners," told reporters here without revealing more about the talks with the Limscott.

He was replying to questions at the launch of the Federation of Indian Exporters Organisation's (FIEO) 'Globalinker' platform for small and medium exporters to digitise and link their businesses to the global marketplace.

Noting that India's largest trade surplus was with the US, said that enjoys a "special relationship with the US, not just restricted to trade, but that is multi-dimensional and strategic".

"We're in control of the situation. Anyway, we're not a significant exporter of or to the US. The more important issue with them is on our exports of medical devices," he added.

US slapped import tariffs of 25 per cent on and 10 per cent on in March. retaliated earlier this month, increasing tariffs by up to 25 per cent on 128 US products, from frozen pork and wine to certain fruits and nuts.

Indian industry chamber has said that an annual trade deficit of $150 billion with the US alone does not allow India room to retaliate in the event of a global trade war since the country's imports are mostly of an essential nature.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 13:40 IST
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