Home / Knowledge / News / Textiles / US, India to reportedly finalise trade deal in Feb

US, India to reportedly finalise trade deal in Feb

29
Jan '20
Pic: Shutter Stock
Pic: Shutter Stock
When United States Trade Representative (USTR) Robert Lighthizer reportedly visits New Delhi in the second week of February, both the countries are expected to finalise a mega trade deal, which is a precursor to a free trade agreement between the two nations and will be signed during President Donald Trump’s likely visit to India during February 24-25.

Lighthizer will meet Indian commerce and industry minister Piyush Goyal to finalise the terms of the deal during the visit, according to some Indian media reports.

Representatives from both sides reportedly met in Davos during the recent World Economic Forum to discuss the planned deal. A six-member US government team was in New Delhi recently and met Goyal and officials in other ministries to discuss the proposed pact.

The issue of medical devices, which was a key obstacle in the trade talks between the two countries, has been reportedly resolved.

India also wants restoration of benefits under the generalized system of preferences (GSP).

The two sides have been engaged in talks to iron out the differences which began in 2018, when the United States levied global additional tariffs of 25 per cent and 10 per cent on the import of steel and aluminium products respectively. India responded by levying retaliatory tariffs on 28 products originating or exported from the United States with effect from June 16, 2019, for which Washington dragged it to the World Trade Organisation.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Aura Blockchain Consortium

Fashion | On 21st Apr 2021

LVMH, Prada and Cartier form world's first global luxury blockchain

Three major luxury names—LVMH, Prada and Cartier, part of...

Pic: Shutterstock

Textiles | On 21st Apr 2021

India-Bangladesh MoU on cooperation in trade remedial measures

India's Cabinet chaired by Prime Minister Narendra Modi has given its ...

Pic: Infinited Fiber Company

Textiles | On 21st Apr 2021

Infinited Fiber plans to build €220 mn flagship factory in Finland

Circular fashion and textile technology group Infinited Fiber Company ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

One thing is certain, online sales will go up

Textile Industry, Head honchos

Textile Industry
Head honchos

Money never disappears-it just finds new opportunities

Prakhar Singh,

Prakhar Singh

Morgan Tecnica offers the largest and most modern range of solutions for...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Ritu Oberoi,

Ritu Oberoi

Established in 2018, Forsarees is a socially driven business enterprise,...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search