India ready to lower US tariffs in exchange for concessions

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India has agreed to the US Terms of Reference for the bilateral trade agreement, after prime minster Modi intervened. US negotiators were in India last week for four days of talks, with India now ready for formal negotiations. India is expected to lower tariffs on US goods in exchange for concessions from the US, reports Indian Express.

The United States Trade Representative (USTR) has a range of concerns it is putting to some 29 countries. In India’s case, the US is worried about internet shutdowns, IP, and restrictions on imports of genetically modified foods, as well as dairy for human consumption which has been fed with animal products. Opponents of any relaxation of restrictions say that they could impact India’s ability to protect its small farmers, maintain food safety, and secure its digital future.