China & US like square & circle, that’s why we turned to India but it’s hard nut to crack: US
The United States and China have been engaged in a trade war for several years, with both countries imposing tariffs on each other’s goods. The tensions between the two nations have been escalating, and it seems that there is no end in sight to this trade dispute. Recently, US Trade Representative Jamieson Greer made a statement that highlights the difficulties in the trade relationship between the US and China. According to Greer, the economies of the US and China are like a square and a circle, which don’t sit together. This analogy suggests that the two countries have fundamentally different economic systems and approaches to trade, which makes it challenging to find common ground.
The trade tensions between the US and China have significant implications for the global economy. The US is one of the world’s largest economies, and China is the second-largest. The trade war between the two nations has disrupted global supply chains, affected businesses and industries, and impacted consumers worldwide. The US has been seeking to diversify its trade relationships and reduce its dependence on China. One of the countries that the US has turned to is India, with which it is seeking to negotiate a bilateral trade agreement.
Speaking about US crop exports, Greer noted that it is helpful for the US to diversify its trade relationships. The US is a significant producer of crops such as soybeans, corn, and wheat, and it exports a substantial portion of these crops to other countries. However, the trade war with China has affected US crop exports, as China has imposed tariffs on US agricultural products. To mitigate the impact of these tariffs, the US has been seeking to increase its crop exports to other countries, including India.
However, Greer acknowledged that India is a challenging market to crack, particularly when it comes to row crops. Row crops are crops that are planted in rows, such as corn, soybeans, and wheat. These crops are essential to the US agricultural sector, and the US is seeking to increase its exports of these crops to India. However, Greer noted that there is resistance in India to US row crops, which makes it difficult for the US to increase its exports to this market.
The resistance to US row crops in India is not surprising, given the country’s own agricultural sector and trade policies. India is a significant producer of agricultural products, including row crops, and it has its own domestic market to protect. India has imposed tariffs and other trade barriers to protect its domestic agricultural sector, which can make it challenging for the US to increase its exports to this market.
Despite the challenges, the US is committed to negotiating a bilateral trade agreement with India. The US sees India as a significant market for its agricultural products, and it believes that a trade agreement can help to increase US exports to this market. The US is also seeking to increase its exports of other products to India, including manufactured goods and services.
The negotiations for a US-India trade agreement are ongoing, and it is unclear when a deal will be reached. However, the US is hopeful that it can reach an agreement with India that will increase US exports to this market and help to reduce the trade deficit between the two countries. The trade deficit between the US and India has been a point of contention between the two nations, with the US seeking to reduce its deficit and India seeking to increase its exports to the US.
In conclusion, the trade relationship between the US and China is complex and challenging, with both countries having fundamentally different economic systems and approaches to trade. The US has turned to India as a potential market for its crop exports, but it faces significant challenges in this market, particularly when it comes to row crops. Despite these challenges, the US is committed to negotiating a bilateral trade agreement with India, which it hopes will increase US exports to this market and help to reduce the trade deficit between the two countries.
As the trade negotiations between the US and India continue, it will be interesting to see how the two countries can work together to increase trade and investment between them. The US and India have a long history of trade and economic cooperation, and there are many areas where the two countries can work together to increase trade and investment. However, the challenges in the trade relationship between the US and India should not be underestimated, and it will require significant effort and negotiation to reach a trade agreement that benefits both countries.
News source: https://x.com/Sputnik_India/status/1998714309367521298
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