The US is looking to boost trade with India as part of ‘friendshoring’ efforts

The US is looking to boost trade with India as part of ‘friendshoring’ efforts

2023-06-30

The United States is India’s largest trading partner, with trade between the two nations currently around US$191 billion in 2022. With the two forging a closer relationship, here’s a look at the prospects for boosting U.S.-India trade. Voice of America reports.

While defense deals between the U.S. and India took center stage during Indian Prime Minister Narendra Modi’s visit to Washington last week, on the sidelines, they also spoke about bilateral trade.

Atul Keshap
U.S. India Business Council
I’ve talked repeatedly about the need for both governments to be impatient about setting a goal of $500 billion in trade and investment between the United States and India.

The U.S. Commerce Department says trade with China reached more than US$690 billion in 2022, but with a China favoring deficit of US$383 billion. U.S. Representative Ro Khanna from California says bilateral trade with India offers the U.S. a chance to have a more balanced relationship than the one with China.

Ro Khanna
US lawmaker
India, with some of the agreements, is going to be buying things from a number of our defense contractors or defense companies. So, they’re helping to create jobs here in the United States, and that is where we need to learn from the mistake made with China, which was an unreciprocal trade agreement.

The U.S. is encouraging businesses away from China and promoting what’s called “friendshoring,” or doing more business with countries that are political and economic allies, like India. During Modi’s Washington visit, India agreed to lift retaliatory tariffs placed on U.S. aluminum and steel imports, but the U.S. kept in place its tariffs on Indian aluminum and steel, which surprised some analysts, like Inu Manak, from the Council on Foreign Relations.

Inu Manak
Council on Foreign Relations
India got a pretty raw deal and it’s quite surprising the Biden administration did not do anything to remove these tariffs as a signal of support for its growing relationship with India.

Manak also says India needs to cut regulations to create a more welcoming environment for U.S. investment.

Inu Manak
Council on Foreign Relations
India has had many long-standing restrictions on foreign direct investment. They have restrictions on foreign ownership.

In the future the goal is to expand business relationships as the U.S. continues to expand its military relationship with the world’s largest democracy.

美印關係日益密切雙邊貿易新願景

2023-06-30

美國是印度最大的貿易夥伴，目前兩國之間的貿易額到2022年約為1910億美元。隨著兩國關係日益密切，雙邊貿易也有了新的願景，來看美國之音的報導。

印度總理莫迪上周與美國總統拜登會面，除了外界關注的國防協議，兩人也談到了雙邊貿易。

[[美-印商業委員會柯夏譜]]
“我多次談到，兩國政府設定的5000億美元貿易和投資目標，需要盡速達成”

美國商務部資料顯示，美中雙邊貿易總額超過6900億美元，對中貿易逆差高達3830億美元，美國聯邦眾議員康納表示，與印度進一步加強經濟關係，能夠減輕對中國的依賴，達到貿易平衡的效果。

[[美國聯邦眾議員康納]]
“根據一些協議，印度將購買一些美國國防承包商或國防公司的產品，他們正在幫助我們創造就業機會。我們需要從與中國不互惠的貿易協定中，吸取教訓”

美國鼓勵企業撤離中國，並推動所謂的”友岸外包”，希望與印度等政治和經濟盟友開展更多業務。在莫迪訪問華盛頓期間，印度同意取消對美國鋁和鋼鐵課徵的報復性關稅，但美國卻維持對印度鋁和鋼鐵的關稅，外交關係委員會專家難以置信。

[[美國外交關係協會伊努•馬納科]]
“印度受到了相當不公平的待遇，令人驚訝的是，拜登政府沒有透過取消這些關稅，傳達支持與印度發展進一步關係的訊息。”

馬納科進一步表示，印度需要減少法規控管，為來自美國的投資創造一個更友善的環境。

[[美國外交關係協會伊努•馬納科]]
“印度長期以來對外國的直接投資有許多限制。他們限制外資所有權。”

隨著擴大與印度這個全球最大民主國家的軍事關係，美國未來的目標是能進一步拓展到商業關係。

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The DPP presidential candidate, Vice President Lai Ching-te, recently proposed narrowing the gap between public and private university tuition fees and related miscellaneous expenses. On Thursday, the Executive Yuan approved an annual tuition subsidy of NT$35,000 per head for students of private colleges and universities.

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However, these good intentions from the government are also being questioned by opposition politicians. They allege that throwing money around on such a large scale is no more than a vote-buying policy. The KMT’s presidential candidate Hou Yu-ih in particular has attacked Lai for days. However, Taichung mayor Lu Shiow-yen has spoken up in support of the policy.

Lu Shiow-yen
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I personally support it. This money comes from the state. Everyone who has a chance to be president should enforce it.

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When we look at the management of public and private tuition fees, we should not wait until the last year when there is an election and use this as an election tool. What’s most important is that our entire higher education system needs to move toward gradually integrating public and private institutions.

Hou refused to take questions from journalists on why he and his fellow KMT member Lu had different opinions. Instead, he’s still continuing to attack Lai for this policy.

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Students discuss government’s plans to cut private university tuition fees

So how do the students themselves feel about Vice President Lai’s idea of subsidies for private university students? On Thursday, an NGO devoted to equal rights in higher education held a press conference, where students praised the Executive Yuan for slashing private university and college tuition fees by NT$35,000 per student per year. They added, however, that the government hadn’t taken this nearly far enough, citing other significant obstacles they faced, such as massive student loans.

Holding placards and chanting slogans, this group of young people who care about equal rights in higher education are delighted to see that ahead of the legislative and presidential elections, some candidates are directly putting forth policies that tackle youth issues.

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As soon as I graduated, I was burdened with student loans of NT$400,000. Equality in education funding I think is a common responsibility and ideal of society and the nation. I hope that in future my fellow students won’t have the same heavy burden of debt that we do.

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Students may abandon their ideal faculty in a private university because public university tuition fees are cheaper. This policy can effectively resolve the problem of students’ rights to select suitable higher education.

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Huang Ching-tang
Fu Jen Catholic University student
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Calling it a vote-buying policy is an extremely cheap shot, because as long as all your policies are beneficial to people, they could be said to be vote buying. For a long time, young people have felt that politicians seem to be very far away from them, so I think it’s very good to see even more policies that directly impact youth get on the agenda of everyone’s discussions.

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Tsai Ing-wen
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Tsai Ing-wen
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Chang Wen-chu
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My name is Chang Wen-chu and I am in fourth grade at Dung-guang Elementary School. I live in Keelung. My interests are train watching, taking the train and playing the piano. I have been learning the piano for five years.

Chang Wen-chu introduces himself to the camera. He’s one of 56 recipients of this year’s President’s Educational Awards, and he’s the only winner from Keelung.

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