Us And India Free Trade Agreement

What face can the Indian government show its people if it yields to American demands for free movement of data, if the country has already taken a firm stance on the location of data, Mahajan added. The Eurasian Economic Union, composed of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, has concluded free trade agreements, see below. On February 24, 2020, Donald Trump made a two-day presidential visit to India, where he was to sign a bilateral free trade agreement with Narendra Modi. In a statement at the meeting, it was said that the two heads of state and government had agreed to conclude a phase 1 trade agreement quickly, if possible before the end of the year1. However, in this context, exacerbated by the fact that most countries are cautiously following their trade strategy, India must focus on far-reaching free trade agreements with trading partners that offer maximum trade complementarities, particularly in the United States and the EU. In the United States, our untapped export potential as a percentage of current exports is around 60%, compared to 90% for the EU. Full multilateral agreements (not listed below) see: List of multilateral free trade agreements. 21 “Usa-Mexico-Canada Trade Agreement: Probable Impact on the U.S. Economy and Certain Industry Sectors,” USITC, April 2019, This scenario is expected to change soon with the signing of the first phase of the U.S.-India trade agreement. India has proposed partially opening up and allowing the importation of U.S. chicken legs at a 25% tariff. However, U.S. negotiators want tariffs reduced to 10%.26 India`s poultry industries strongly oppose the proposed free trade agreement with the United States because they fear that imports of cheap poultry could lead to the closure of hundreds of thousands of indigenous chicken farms and processing units and that about four million people will be unemployed.

“The price of chicken meat in the U.S. is ridiculously low,” says K.G. Anand, managing director of Venkateshwara Hatcheries, India`s largest producer of raw and processed chicken meat. “The government cannot kill millions of farmers to meet a country`s needs.” 27 15 Hormones, Cows and the New Trade Agreement: What you need to know about CBC News, 3 October 2018, The People`s Republic of China concluded bilateral trade agreements with the blocs, countries and their two specific administrative regions:[13] Last year, the LSU played a key role in persuading the BJP-led government to leave negotiations on the Comprehensive Regional Economic Partnership Agreement between 16 countries, including the 10-member ASEAN, India and China.