US eager to make progress on trade with India: Ross
the US and India, a security-focused grouping seen as a counter to China that has drawn Beijing’s ire. The group was upgraded to ministerial level in September.
China has sought to accelerate the RCEP deal as it faces slowing growth from a trade war with the US.
An agreement would further integrate Asia’s economies with China just as President Donald Trump’s administration urges nations in the region to shun Chinese infrastructure loans and 5G telecommunications technology.
A China-led push would not necessarily satisfy the Japanese, who invited India to be a part of the negotiations.
“It’s not desirable to have an agreement that suits China’s purposes,” former Japanese defence minister Takeshi Iwaya said in an interview on Tuesday. “Even if it takes a long time, it’s important to build an agreement that’s desirable for all the member countries.”
BANGKOK: US commerce secretary Wilbur Ross said on Tuesday that he was eager to make further progress on trade talks with India and wanted to hear Indian proposals that could lead to the restoration of some trade preferences.
“We are eager to make further progress with India on that topic,” Ross said during a call with reporters during a visit to Thailand for regional meetings.
In June, the US ended its preferential trade treatment for India, removing it from the Generalized System of Preferences (GSP) program, but Ross said he was waiting for a proposal from Indian officials to address that.
REUTERS