US and India discuss access for corn and soybeans in trade talks

Washington insists on expanding agricultural exports, while New Delhi is considering possible concessions. US President Donald Trump said that he held talks with Indian Prime Minister Narendra Modi this week, the main topic of which was trade. Indian exports to the US are taxed with high tariffs – up to 50%, half of which are related to punitive measures for the purchase of Russian oil. This puts pressure on key industries – textiles, jewelry, fishing, leather and engineering, which employ millions of workers. According to media reports, the US may reduce tariffs on Indian goods to 15-16%, while the success of the negotiations will largely depend on agreements on energy and agriculture. The central topics of the negotiations were corn and soybeans. Washington seeks to expand exports of these crops to the Indian market. India is increasingly using corn to produce bioethanol, but its legislation prohibits the use of imported grain and GM crops. At the same time, the United States ...