Monday, 17 June 2024

The US applauds India’s decision to lower tariffs on Agricultural Exports

  • The recent agreement between India and the US to lower tariffs on agricultural products.
  • By lowering tariffs, the US will be able to sell more goods to Indian consumers.
  • The deal will result in a reduction of 30% to 5% on tariffs for frozen turkey goods exported to India.

The recent agreement between India and the United States to lower tariffs on several American agricultural products, including frozen turkey, frozen duck, fresh and frozen blueberries and cranberries, dried blueberries and cranberries, and processed blueberries and cranberries, has been warmly received by the United States.

By lowering tariffs, the US will be able to sell more goods to Indian consumers and increase its agricultural producers’ economic chances in the crucial market. According to Tom Vilsack, the US Secretary of Agriculture, this action will open up new market prospects for US exporters and producers.

Tariffs on agricultural exports

The latest action comes in response to India’s effective withdrawal of retaliatory duties on US apples, chickpeas, lentils, almonds, and walnuts. Despite major strides in the right direction, there are still substantial tariff and non-tariff obstacles standing in the way of American agricultural products entering the Indian market.

Senator Amy Klobuchar applauded the deal to reduce duties on US turkey exports to India, which will result in a reduction of 30% to 5% on tariffs for frozen turkey goods exported to India.

In addition to increasing demand for Virginia poultry and boosting economic activity in the Valley, senators Mark Warner and Tim Kaine claimed that the decision would reinforce the already solid US-Indian relationship.

After producing 14.5 million turkeys in 2021, Virginia ranked sixth in the nation as a source of the bird. The production of turkeys is crucial to Virginia’s poultry sector, which has a direct economic effect of USD 5.8 billion and supports USD 13.6 billion in state-level economic activity.

The National Turkey Federation applauds the efforts made by the US and Indian governments to drastically lower the tariffs, opening up a substantial new market for US turkey producers and providing Indians with more reasonably priced access to delicious and nutritious protein.

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