US Commerce Secretary has linked the lifting of tariffs against India to purchases of goods
US Commerce Secretary Howard Lutnick warned India could lose US market access unless it starts buying American corn. He criticized one-sided trade, demanding tariff cuts and fairer cooperation. India bans genetically modified corn, complicating imports. Amid falling exports to China, Washington seeks new markets. Trump-Modi talks this week will address trade barriers.
US Commerce Secretary Howard Lutnick said that India could lose access to the US market if it does not start buying corn from the US. According to him, trade relations between the countries are one-sided: New Delhi actively exports its goods to the US market, but at the same time blocks imports of products from the US. Lutnick stressed that Washington expects a reduction in tariffs and fairer terms of cooperation, warning India of “difficult times” if it refuses to make concessions.
The main problem is that most of the US corn is genetically modified, while in India both its import and cultivation are prohibited. Despite this, the US insists on opening the market, as American farmers are suffering losses due to a drop in exports to China amid the trade war. Donald Trump’s administration is trying to find new markets for agricultural products, and India is seen as a key direction.
Trump has previously doubled tariffs on Indian imports to 50% and imposed a 25% levy on India’s purchases of Russian crude oil, which has already caused tension in bilateral relations. New Delhi has called the US measures “unfair and unreasonable” and insists that its energy policy is determined solely by national interests.
Despite the dispute, Presidents Donald Trump and Narendra Modi are set to discuss trade barriers in the near future. A new round of talks is due to take place this week in New Delhi, but Washington has already announced new conditions, making the purchase of American corn a key element of the future deal.
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Source : Ukr Agro Consult
