China & US like square & circle, that’s why we turned to India but it’s hard nut to crack: US
The relationship between the United States and China has been a topic of discussion for many years, with the two countries having fundamentally different economic systems. According to US Trade Representative Jamieson Greer, the economies of China and the US are like a square and a circle, which do not fit together seamlessly. This analogy highlights the significant differences in the way the two countries approach trade, commerce, and economic development. In recent years, the US has been seeking to diversify its trade relationships and reduce its dependence on China. One country that has emerged as a key partner in this effort is India.
The US has been actively pursuing a bilateral trade agreement with India, with the goal of increasing trade and investment between the two countries. One area where the US is particularly interested in increasing exports is in crop exports. The US is a major producer of crops such as corn, soybeans, and wheat, and is looking to expand its exports to India. However, according to Greer, there is significant resistance in India to the importation of these crops, particularly row crops. Greer noted that India is “a very difficult nut to crack” when it comes to negotiating trade agreements, particularly in the area of agriculture.
The resistance to US crop exports in India is not surprising, given the country’s long history of protecting its agricultural sector. India has a large and diverse agricultural industry, and the government has traditionally been cautious about opening up the sector to foreign competition. However, the US is hopeful that it can persuade India to reduce its trade barriers and increase imports of US crops. The US believes that its crops are of high quality and can help to meet India’s growing demand for food.
The US-India trade relationship has been growing in recent years, with bilateral trade increasing to over $120 billion in 2020. However, the relationship is still heavily skewed in favor of the US, with the US running a significant trade surplus with India. The US is hoping to reduce this surplus by increasing its exports to India, particularly in the areas of agriculture and energy. However, the process of negotiating a trade agreement with India is complex and time-consuming, and will require significant effort and patience from both sides.
One of the key challenges in negotiating a trade agreement with India is the country’s complex regulatory environment. India has a large and bureaucratic government, and the process of approving new trade agreements can be slow and cumbersome. Additionally, India has a number of non-tariff barriers in place, such as quotas and licensing requirements, which can make it difficult for foreign companies to export goods to the country. The US will need to navigate these complexities carefully if it is to succeed in increasing its exports to India.
Despite the challenges, the US is committed to pursuing a trade agreement with India. The US believes that India has the potential to be a major market for US goods and services, and is willing to work hard to overcome the obstacles that stand in the way of a successful trade relationship. The US is also keen to promote its values of free trade and open markets, and sees India as a key partner in this effort.
In conclusion, the US is facing significant challenges in its efforts to increase trade with India, particularly in the area of crop exports. However, the US is committed to pursuing a trade agreement with India, and is willing to work hard to overcome the obstacles that stand in the way of a successful trade relationship. The US believes that India has the potential to be a major market for US goods and services, and is keen to promote its values of free trade and open markets. As the US Trade Representative Jamieson Greer noted, India is “a very difficult nut to crack,” but the US is hopeful that it can persuade India to reduce its trade barriers and increase imports of US crops.
The US-China trade relationship is also an important factor in the US’s efforts to increase trade with India. The US is seeking to reduce its dependence on China and diversify its trade relationships, and India is seen as a key partner in this effort. The US believes that India has the potential to be a major player in the global economy, and is keen to promote its values of free trade and open markets. As the US continues to navigate the complexities of the global trade landscape, it is likely that India will play an increasingly important role in US trade policy.
The future of the US-India trade relationship is uncertain, but one thing is clear: the US is committed to pursuing a trade agreement with India, and is willing to work hard to overcome the obstacles that stand in the way of a successful trade relationship. The US believes that India has the potential to be a major market for US goods and services, and is keen to promote its values of free trade and open markets. As the US Trade Representative Jamieson Greer noted, India is “a very difficult nut to crack,” but the US is hopeful that it can persuade India to reduce its trade barriers and increase imports of US crops.
Source: https://x.com/Sputnik_India/status/1998714309367521298
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