The White House revised its fact sheet on the US-India trade deal on Tuesday, February 10 (US time), removing the reference to pulses and changing the language regarding digital services.
The White House issued a joint statement on February 9, Monday (US time), days after India and the US announced the framework for an interim agreement on mutual and mutually beneficial trade, titled “The United States and India Announce Historic Trade Agreement (Interim Agreement)”.
What changes have been made?
-Revised version deleted “certain pulses” from the list of agricultural products on which India has agreed to cut tariffs. The original specifically included pulses alongside items such as tree nuts, soybean oil, wine and spirits.
Read also | Trade deal to boost exports, but energy and metals remain concerns: SBICaps
-The revised version also removed the reference to India abolition of digital services tax and now only says that India is “committed to negotiating a robust set of bilateral digital trade rules”.
The White House also removed a reference to “rules that prohibit the imposition of tariffs on electronic transmissions,” news agencies reported.
An initial version of the fact sheet highlighted key terms of the deal, including that India would eliminate or reduce tariffs on all US manufactured goods and a wide range of US food and agricultural products, including dry distillers’ grains, red sorghum, tree nuts, fresh and processed fruit, “certain pulses”, soybean oil, wine and spirits, and other products.
The fact sheet also said that India has committed to buy more US products and buy more than $500 billion in US energy, information and communication technology, agriculture, coal and other products.
What does the revised information sheet say?
The revised information sheet, now issued, has removed the reference to pulses and changed the word “committed” used for India to “intends”.
“India will eliminate or reduce tariffs on all US manufactured goods and a wide range of US food and agricultural products, including distillers’ dried grains (DDG), red sorghum, tree nuts, fresh and processed fruits, soybean oil, wine and spirits and other products,” the statement said.
Read also | 80% of small-cap stocks are down 20-90% from their peak: Can a trade deal end this bear market?
“India intends to buy more US products and buy more than $500 billion worth of US energy, information and communication technology, coal and other products,” the revised fact sheet said.
Former Home Minister Sanjeev Gupta drew attention to the modification in a post on X.
The joint statement issued last week on the trade deal made no mention of “pulses” in the items on which India will eliminate or reduce tariffs on US products.
India intends to buy $500 billion worth of US energy products, aircraft and parts, precious metals, technology products and coking coal over the next 5 years.
The joint statement also claimed that “India intends to purchase $500 billion worth of US energy products, aircraft and aircraft components, precious metals, technology products and coking coal over the next 5 years”.