White House Updates US-India Trade Agreement Factsheet with Key Revisions
The White House has issued a revised version of its official factsheet detailing the historic interim trade agreement between the United States and India. The updated document, released on Tuesday, February 10th (US Time), features several notable modifications from the original version published on Monday, February 9th.
Key Changes in the Revised Factsheet
The revisions primarily involve the removal of specific references and a subtle shift in the language describing India's commitments under the agreement.
Removal of Pulses from Agricultural Tariff List: A significant alteration is the deletion of the phrase "certain pulses" from the list of agricultural products on which India has agreed to reduce tariffs. The original factsheet explicitly included pulses alongside other items such as tree nuts, soybean oil, wine, and spirits. The revised version now enumerates only dried distillers' grains, red sorghum, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products.
Softened Language on Digital Services and Purchases: The White House also revised the language concerning digital trade and India's purchase intentions. The initial version stated that India had committed to scrapping digital services taxes. The updated factsheet now says India is "committed to negotiate a robust set of bilateral digital trade rules." Furthermore, a reference to "rules that prohibit the imposition of customs duties on electronic transmissions" has been removed entirely.
Additionally, the word "committed" regarding India's intention to buy more American products has been changed to "intends." The revised text reads: "India intends to buy more American products and purchase over $500 billion of US energy, information and communication technology, coal, and other products."
Context and Background of the Agreement
The factsheet, titled 'The United States and India Announce Historic Trade Deal (Interim Agreement),' was released days after both nations announced a framework for a reciprocal and mutually beneficial trade pact in a joint statement. The initial version highlighted that India would eliminate or reduce tariffs on all US industrial goods and a wide range of US agricultural products.
It is noteworthy that the joint statement issued last week did not mention "pulses" among the items for tariff reduction. It stated: "India intends to purchase $500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next 5 years." This aligns with the revised factsheet's language.
The tweak in the White House document was publicly noted by former Home Secretary Sanjeev Gupta in a post on social media platform X, drawing attention to the nuanced changes.
These revisions reflect a careful recalibration of the documented terms, potentially clarifying positions or adjusting emphasis following the initial announcement. The core framework of the interim trade agreement, aimed at boosting bilateral trade and economic cooperation, remains intact despite these textual modifications.
