March 9, 2022
In its 2021 Annual report to Congress, the US Trade Representative (USTR) mentioned that India and the US share a dynamic and an important trade and investment relationship.
USTR also mentioned that it will look to TPF in order to tackle trade, labor and environment issues.
India and the US re-established the United States-India TPF for the first time since 2017.
At the 2021 TPF meeting, India and the US discussed a broad range of concerns regarding trade and issued a joint statement that stated the resolution of specific trade concerns.
The Joe Biden administration is considering ways to collaborate with India to build a resilient supply chain and develop a transparent trading system for market economies and democracies, as stated by the USTR.
The first-wave of Covid-19 disrupted a lot of businesses and supply chains throughout, especially from China. To help prevent such unprecedented disruptions, the US and India have emphasized on the importance of building a robust supply chain system.
In its 2021 Annual report to Congress, USTR stated that the US and India share a dynamic and important trade and investment relationship. With respect to this, both countries re-established the United States-India TPF in November 2021 – for the first time since 2017 – with a view to resolve supply chain concerns that would affect the trade relationship between both countries. This would also act as a bilateral forum to discuss trade and investments issues. Both countries also issued a joint statement that identified the scope of future trade opportunities through the TPF technical-level working group on sectors such as agriculture and non-agriculture goods, services, investments, and intellectual property.
In the current year, USTR will look at the TPF to tackle issues that will impact the relationship between trade, labour, and the environment. The US government also wants to engage in in-depth conversations with India on issues pertaining to labour, environment, digital trade, and good regulatory practice, among others.