A group of 12 American Senators has urged US Trade Representative Robert Lighthizer to impress upon India to remove existing trade barriers on agricultural products in particular pecan.
Reducing the tariff to levels shared by similar tree nuts would result in higher imports, greater revenues and a better US-India trade relationship, the lawmakers said in their letter dated September 20.
It is estimated that US pecan exports to India would increase to USD 300 million within five years if the current 36 per cent tariff was reduced to 10 per cent or less, the lawmakers said.
The letter among others was signed by Senators John Cornyn, Ted Cruz, Martin Heinrich, John Boozman and Tom Cotton, Cindy Hyde-Smith, James Inhofe, Johnny Isakson, Doug Jones, Tom Udall and Roger Wicker.
"The current disparity in the tariffs India charges on different varieties of tree nuts has created an unlevel playing field for American producers. The current tariff on US pecans entering India is approximately 36 per cent, while the tariff for similar products, such as pistachios and almonds, is only 10 per cent," wrote the senators.
"Lowering the tariff on pecans would satisfy the demand of the Indian people for additional varieties of tree nuts without impacting India's virtually nonexistent domestic pecan industry, continued the senators.
India currently imposes a 36 per cent tariff on US pecan imports, as opposed to only 10 per cent tariffs on other tree nuts like almonds and pistachios.
Disclaimer: No Business Standard Journalist was involved in creation of this content
