In the Business-20 event during India's G20 presidency last year in August, Trade Minister Piyush Goyal, who donned the hat of the moderator, quizzed his counterpart, United States Trade Representative (USTR) Katherine Tai, on whether it would be fair to say that both sides now had the best relationship ever in their history.
"The quality of engagement, the huge respect, and the huge amount of confidence that was generated during the visit of Prime Minister Narendra Modi to the US and the bonding between President Biden and Modi. Does all of this reflect possibly the best time in terms of friendship and relationship?" Goyal said.
During that state visit in June last year, the United States and India announced resolutions on key trade issues, including the termination of six disputes (and later another pending dispute) at the World Trade Organization and India's removal of tit-for-tat tariffs on certain US products such as chickpea, lentils, almond, walnut, apple, and boric acid. This almost made up for a mini trade deal that both sides could not agree upon during Modi's visit to the US in 2019, during Donald Trump's presidency.
"You are absolutely right. We are at a very high watermark," Tai responded to Goyal.
Biden's trade policy
This story is from the September 19, 2024 edition of Business Standard.
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This story is from the September 19, 2024 edition of Business Standard.
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