Both countries recognize and value the substantial contributions that the international financial institutions have made to global growth, higher incomes, the alleviation of poverty, and the maintenance of financial stability since their establishment.
The two governments reviewed substantive progress achieved in deepening bilateral trade and investment goals in and discussed planned engagement for that can promote economic growth and job creation in both India and the United States.
Minister Sitharaman and Ambassador Froman discussed and exchanged views on a range of trade and investment issues, in particular, i Agriculture, ii Trade in Services and Trade in Goods, iii Promoting Investment in Manufacturing, and iv Intellectual Property.
The co-chairs of the respective Work Sessions briefed Ambassador Froman and Minister Sitharaman on the outcomes of their discussions and presented agreed upon work plans for continued engagement in these areas in Trade Representative and the Minister also discussed the status of U.
Agriculture Acknowledging the benefits to Indian and U. Both countries highlighted the importance of ensuring food safety, and took note of technical discussions under the Trade Policy Forum that is expected to facilitate trade in food products between the two countries.
Both countries also agreed to facilitate cooperation between their SPS Enquiry points and to share best practices on implementing risk-based approaches to food inspections. Discussion of mandatory package size requirements for pre-packaged foods will continue in India clarified that determination of wholesale and retail labeling requirements is not dependent on the weight of imported food consignments.
India took note of U. Both countries agreed to continue discussion on this issue in Trade in Services and Trade in Goods Minister Sitharaman and Ambassador Froman highlighted the important role of the services sector in India and the United States, and the significant potential for increasing bilateral services trade and investment.
To advance this goal, India and the United States discussed efforts to promote foreign investment in key services sectors. The United States urged India to consider policy measures that would facilitate greater participation of foreign companies in service sectors.
Both countries reviewed technical engagement that took place in Both countries agreed to continue to engage on this issue to ensure that insurance companies can take full advantage of this new market opening. The Minister and U. Trade Representative also noted the important role of services, such as e-commerce, retail and direct selling, in facilitating trade in goods, and took note of developments in these sectors.
The United States provided information on the positive correlation between investments in the e-commerce and retail sectors, and the expansion of transport, logistics and warehousing infrastructure.
India informed that the e-commerce regulatory regime is still evolving in India, and that a white paper on direct selling prepared by the Indian Institute of Corporate Affairs IICA under the Ministry of Corporate Affairs is being discussed with stakeholders.
Both countries acknowledged that professionals with expertise in the legal requirements of foreign countries can be assets to Indian and U. India and the United States took note of work in under the Health Dialogue to increase access to healthcare, including discussions of community-based mental health care services, collaborations on the new India National Cancer Institute, and ways the Indian pharmaceutical sector could augment production of drugs for treatment of rare cancers.
Noting the holistic approach to health and the advantages of traditional medicine in certain cases, both sides recognized the gains from the enhanced cooperation since the last TPF and agreed to explore further the potential of mutual collaboration in the field of Indian Traditional Medicine AYUSH.
Both countries will work together to consider signing a Memorandum of Understanding between the Ministry of AYUSH and the Department of Health and Human Services, which can pave the way for a Joint Working Group on collaboration in various aspects of Traditional Medicine, including regulatory and capacity building.
While licensure of health practitioners is managed by each U. Under the Trade Policy Forum, Minister Sitharaman and Ambassador Froman pledged to explore further mechanisms, including technical discussions, to reduce trade costs across the health sector supply chain, including in pharmaceuticals and medical devices, in a manner that benefits patients and providers of healthcare services and products.
The United States noted the need for India to address the issue of export subsidies in the textiles sector. Department of Labor to resolve this issue. The two countries acknowledged the discussion on Totalization held in August in Baltimore and welcomed the exchange of information on their respective social security systems.
They looked forward to further engagement on this issue.
Promoting Investment in Manufacturing Minister Sitharaman and Ambassador Froman discussed efforts that each country is undertaking to promote the ease of doing business in order to create a conducive environment for entrepreneurs and attract investment in manufacturing.The United States and China commit to continue exchanging views on issues regarding their respective national security reviews in the future, including the scope of each country’s national security review process and the role in each country’s national security review process for entities not party to an investment.
The main theme of the meeting emphasized the issues regarding the de-nucleariziation on the Korean peninsula in addition to the stabilization of China–United States relations. President Trump reiterated the importance of trade development between the two countries and reaffirmed the American support for the One-China policy.
China-U.S. Trade Issues Wayne M.
Morrison Specialist in Asian Trade and Finance July 30, Congressional Research Service initiativeblog.com several industries; and its large merchandise trade surplus with the United States.
China’s economic and trade conditions, policies, and acts have a significant impact on the U.S. economy. United States third-largest trade partner after China and Canada. Mexico ranks second among U.S.
export markets after Canada, and is the third-leading supplier of U.S. imports. Included is an introduction part raising the issues of concern, the trade situation between U.S. and China, current U.S.
dollar and China (remnibi) currency policies, and a brief section on how rising oil prices affect the U.S. trade deficit. Two-way trade between China and the United States has grown from $33 billion in to over $ billion in goods and services in China is currently the third-largest export market for U.S.
goods (after Canada and Mexico), and the United States is China’s largest export market.