Washington, D.C. – National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith released a statement following the administration’s announcement of a Joint Statement providing the outline of an “Interim Agreement” with India:
“The Joint Statement announcing a framework for an Interim Agreement with India is an important development in our relationship with one of the world’s biggest economies, and we thank the administration, and USTR in particular, for their efforts.
“We were pleased to see a significant reduction in tariffs in both the U.S. and India, as well as progress on a number of challenging issues such as the elimination of India’s import licensing in the ICT sector and a commitment to addressing digital trade barriers that limit opportunities for U.S. companies in India.
“We hope the Interim Agreement creates momentum to conclude the comprehensive U.S.-India Bilateral Trade Agreement (BTA), addresses additional irritants, further reduces bilateral tariffs, and delivers on the promise of a mutually beneficial bilateral relationship.
“A critical element of the BTA’s outcomes on digital trade must include India’s support for a permanent global moratorium on customs duties on electronic transmissions at the WTO’s 14th Ministerial Conference, and we urge the administration to keep pressing India to make this commitment in advance of the ministerial.”
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.
