After Donald Trump took office for four years, American companies looking forward to new approaches to international trade policy asked the Biden administration a question: What will happen to the tariffs he imposed on China?
The unbalanced trade balance with China, the largest source of U.S. imports, has become a fixed factor in Donald Trump’s trade policy. He imposed tariffs on billions of dollars of Chinese goods including clothes, shoes and food, which disappointed the business groups that had supported him in tax cuts and deregulation.
However, under Joe Biden’s leadership, most of the tariffs still exist, and some American business groups have become anxious.
USA is Indias major export market for gem and jewellery products. Exports of around US$9.3 billion goes to the USA market accounting for 25.6% of the total gem and jewellery exports of US$36 billion from the country.
FTA talks resumption with EU, fresh negotiations with UK soon: Commerce secretary
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“They (the USTR) have notified and kept in abeyance (the tariffs). This is a part of the global effort to reach a broader understanding on taxation in the face of recent developments in e-commerce and is moving in a conducive manner. I am sure the world will reach some understanding on these issues,” he said while addressing the media.
Agencies
With the EU, Wadhawan said that at the highest level, a clear agreement was there on resumption of negotiations, tracks on which talks will happen, and a clear resolve to expedite finality in the negotiations at an early date.
Yet the EU has consistently opposed India and South Africa's proposal at the World Trade Organization to temporarily waive certain intellectual property rules under the Agreement on Trade-Related Aspects of Intellectual Property Rights, a measure that would expand access to lifesaving vaccines and other health products. The arguments used by the.