India: Australia-India Economic Agreement Raises Challenges for US-India Trade

  |   Attaché Report (GAIN)   |   IN2022-0033

The Australia-India Economic Cooperation and Trade Agreement (AI-ECTA) (signed on April 2, 2022) is a partnership agreement that aims to boost bilateral trade and investment between the two Indo-Pacific countries. The agreement must now be approved by Australia’s and India’s parliaments, but little opposition is expected for the ratification agreement in either country. Through its phased-in tariff reductions, the AI-ECTA will raise challenges for U.S. food and agricultural products in the Indian market. Commodity areas of concern include wines and spirits, cotton, pulses and beans, forest products, and tree nuts (almonds and pistachios). At the same time, India is seeking to establish a number of additional free trade agreements and or comprehensive economic partnership agreements - including with the United Kingdom, Canada, and Israel, among others.

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