The US Trade Representative (Ustr) has announced an agreement with India to avoid imposing new retaliatory taxes on digital services. As a planned retaliation by the United States, taxes on rice were induced: imports of crude basmati from India were taxed at 25% of existing import duties. US Ambassador Catherine Toy met with her Prime Minister in India to discuss bilateral issues, including tax changes on digital services. After the discussions, four days before the deadline set by the United States, a mutual agreement was reached. The U.S. Rice has put forward its ideas in favor of imposing retaliatory taxes on all rice imported from India as excessive subsidies are provided on rice production that is disrupting the global grain market. “Over the past decade, rice imports to the United States have grown significantly, mainly due to India and Thailand, the world’s largest exporters. From India alone, the world’s largest rice exporter, imports have increased by 159% from 2011 to 2020, ”said Peter Bachmann, Louisiana processor and member of the USA Rice Board and USA Rice International Committee. On behalf of the organization. “During the same period, the value of rice imports from India to the United States doubled from $ 125 million a year to $ 283 million.” US rice efforts to reject India’s subsidies will not stop with this move. “We need to keep track of what our competitors are doing at the political level … but we also need to get the Biden administration to deal with a case in the WRO against India,” another member of the panel for the United States reiterated. International Trade Policy on Rice.
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