'India-US interim trade pact to expand market access for American agri products': US Trade Representative

US President Donald Trump is expanding access for American farmers and producers to the Indian market under a new trade deal, the United States Trade Representative (USTR) said, highlighting India’s commitments to cut trade barriers across sectors.

In a statement, the USTR said India has agreed to eliminate or lower tariffs on all US industrial goods and a wide range of agricultural products, opening up one of the world’s largest economies to American exports.

“From tree nuts and dried distillers’ grains to red sorghum and fresh and processed fruit, the US-India agreement will provide new market access for American products,” the USTR said in a social media post on Friday, local time.

In another post, it said, “President Trump is expanding American farmers and producers’ access to one of the largest economies in the world, with India committing to eliminate or lower tariffs for all US industrial goods and a wide array of agricultural products; address long-standing non-tariff barriers to trade; buy more American goods and services and purchase over $500 billion of US products.”

Welcoming the agreement, US Trade Representative Ambassador Jamieson Greer said President Donald Trump’s “dealmaking” is unlocking significant opportunities for American workers and producers.

“Today’s announcement demonstrates the deepening ties between the United States and India as we create new opportunities for farmers and entrepreneurs in both countries,” Greer said in a statement.

The White House, in a joint India-US statement, said the two countries have reached a framework for an interim agreement on reciprocal and mutually beneficial trade.

Greer said Trump’s dealmaking is lowering tariffs on all US industrial goods and a broad range of agricultural products, while also removing tariff and non-tariff barriers to open up India’s market of over 1.4 billion people to American products.

He also thanked Union Minister of Commerce and Industry Piyush Goyal for his leadership and commitment towards “achieving fair and balanced trade with the US”.