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U.S., India closing in on trade deal

U.S. Commerce Secretary Howard Lutnik says the US and India are finalizing a potential trade agreement that could expand market access for ag producers.

During remarks on Monday at the US-India Strategic Partnership Forum, Lutnik says he’s very optimistic. “You should expect a deal between the United States and India in the not-too-distant future.”

He said agriculture will likely be included but the deal will need to equitable for both countries. “I think we found that way. I think we’ll find that path together. It’s just the smart way of doing it. We have that same political will here, so I think, we can speak to each other and find that path.”

Market analyst Jim McCormick with AgMarket.Net tells Brownfield negotiations require balancing the needs of both countries. “The more products that we sell into the Indian market, the more competition it is for the Indian producer in India, which means their political leaders are going to push back because they’re going to have the same problem our political leaders have.”

Lutnik did not disclose specifics of what could be included in the agreement, but a trade delegation is scheduled to visit New Delhi on June 5-6 for further discussions.