The Indian Panorama

Tag: USTR

  • Indian American international trade policy expert Arun Venkataraman sworn in as key commerce official

    Indian American international trade policy expert Arun Venkataraman sworn in as key commerce official

    WASHINGTON, D.C. (TIP): Arun Venkataraman, a leading Indian American expert on international trade policy, has been sworn in as the Assistant Secretary of Commerce for Global Markets and Director General of the US and Foreign Commercial Service for the International Trade Administration.

    Confirmed by the US Senate on 7 April, President Joe Biden’ nominee was sworn in by Secretary of Commerce Gina Raimondo, on Monday, April 25. “His expertise in trade law & policy is an invaluable asset as we help businesses recover from the economic toll of Covid-19,” she tweeted later.

    “His experience and leadership helping the US public and private sector navigate and overcome critical trade challenges has earned him respect both inside and out of government as well as with the team he is now assigned to lead. I look forward to working with him in his new role,” Raimondo added.

    Venkataraman will lead a team of over 1,400 employees strategically located in 106 offices across the US and 78 markets abroad, supporting US companies in markets representing 95 percent of global GDP and 97 percent of US trade. This includes over a thousand career professionals that specialize in export promotion, commercial diplomacy and foreign direct investment.

    “In over 20 years in the commerce space, I have seen firsthand the value that American businesses and workers offer in every corner of the world,” Venkataraman said in a press release.

    “The world is turning to the US because we have the expertise, experience and entrepreneurial spirit to provide the products, services and innovative solutions that make a difference.” “I thank President Biden, Secretary Raimondo and the US Senate for entrusting me with this position,” he added. Prior to this he was Counselor to the Secretary of Commerce, advising the Department on trade and other international economic matters.

    As the first ever Director of Policy at the Department of Commerce’s International Trade Administration under President Obama, Venkataraman helped shape the US government’s responses to critical challenges faced by firms in the US and in markets around the world, including China and India, according to his official profile. While at the Office of the US Trade Representative (USTR), he led the development and implementation of US-India trade policy as the Director for India, for which he received the agency’s Kelly Award for outstanding performance and extraordinary leadership.

    Before joining the Biden-Harris Administration, Venkataraman was a Senior Director at Visa, leading global government engagement strategy on a range of international policy issues including digital economy, trade, tax and sanctions.

    He previously served as Trade & Investment Policy Advisor at Steptoe & Johnson LLP, where he counseled multinational firms and other organizations on e-commerce, intellectual property rights, and US and foreign trade policies. Venkataraman also served as Associate General Counsel, representing the United States in litigation before the World Trade Organization and in negotiations on international trade agreements. Before joining USTR, Venkataraman was a Legal Officer at the World Trade Organization, advising the organization on a wide range of issues raised in appeals of trade disputes between countries. He began his career as a Law Clerk for Judge Jane A. Restani at the US Court of International Trade. Venkataraman holds a JD from Columbia Law School, a Master of Arts in Law and Diplomacy from the Fletcher School of Law and Diplomacy, and a BA from Tufts University.

  • Digital tax row: US suspends additional tariffs on India

    NEW DELHI( TIP): The US has backtracked from imposing penalties on six countries, including India, for introducing the digital services tax (DST) which it felt targeted its social media giants.

    The US has decided to opt for negotiations for the next six months with these countries to work out a satisfactory solution. Making the announcement, US Trade Representative (USTR) Katherine Tai said the plan for retaliatory tariffs on some goods from six countries would be suspended till November 29 to provide additional time to complete the ongoing multilateral negotiations on international taxation at the OECD and in the G20 process.

    “The US is focused on finding a multilateral solution to a range of key issues related to international taxation. It remains committed to reaching a consensus through the OECD and G20 processes. Today’s actions provide time for those negotiations to continue while maintaining the option of imposing tariffs if warranted in the future,’’ said Tai in a statement. The USTR holds that the DST is discriminatory and burdens US commerce. In March, Tai was unmoved by the arguments from Commerce Minister Piyush Goel. A day after their meeting, the USTR had said it would impose higher import duties on 45 categories of Indian imports equal to the $55 million that New Delhi presumably earned from imposing 2 per cent DST.                  Source: TNS

  • India’s External Affairs Minister meets U.S. officials, lawmakers in Washington

    India’s External Affairs Minister meets U.S. officials, lawmakers in Washington

    “Conveyed appreciation for U.S. solidarity in addressing the Covid challenge”, the Minister says.

    WASHINGTON (TIP): External Affairs Minister S. Jaishankar has had a hectic day and a half in Washington DC, where he met government officials, including National Security Advisor Jake Sullivan and the U.S. Trade Representative (USTR) ambassador Katherine Tai, lawmakers, and the private sector.

    Mr. Jaishankar, who is on his first visit to the U.S. during the Biden administration, met with Mr. Sullivan on Thursday, May 27. Both sides indicated that there was a discussion on regional (Indo-Pacific) or global issues, with Mr Jaishankar specifying, via a tweet, that Afghanistan came up.

    “Conveyed appreciation for US solidarity in addressing the Covid challenge. India-US vaccine partnership can make a real difference,” the tweet said.

    The U.S. readout said Mr. Jaishankar and Mr. Sullivan “welcomed” cooperation that has resulted in the delivery of over $ 500 million in relief materials (state, federal and private sector sources) from the U.S. to India.

    “They agreed that people-to-people ties, and shared values are the foundation of the U.S.-India strategic partnership that is helping to end the pandemic, supporting a free and open Indo-Pacific, and providing global leadership on climate change,” it said.

    Mr. Jaishankar said he had “good discussions” with Ms. Tai, who recently announced that the Biden administration would support an India-South Africa initiative at the World Trade Organisation (WTO) to waive intellectual property protections for COVID-19 vaccines.

    “Our trade, technology & business cooperation are at the core of our strategic partnership. Enhancing them is vital to post-Covid economic recovery. Welcomed her positive stance on IPR issues & support for efficient & robust supply chains,” Mr. Jaishankar said on Twitter.

    The Hindu had reported that procuring vaccines and sorting out issues around this, such as early Emergency Use Authorization and liability are central to Mr. Jaishankar’s trip agenda, though officials have been keen to stress that this is not the focus of the visit and that discussions would cover a more comprehensive list of topics pertinent to the strategic relationship between the two countries.

    Mr. Jaishankar had breakfast and lunch meetings on Thursday, May 27, organized by advocacy and industry groups, the U.S. India Business Council (USIBC) and the U.S. India Strategic Partnership Forum (USISPF).

    The USIBC meeting included a discussion on how the private sector, working via a consortium of 40 companies called the ‘Global Task Force for Pandemic Response’, could “support India’s health infrastructure and further ways to continue relief efforts,” said Priyanka Sethi, a spokesperson for the group.

    Pfizer and Johnson and Johnson – both companies that manufacture COVID-19 vaccines of interest to India – are part of the Task Force. The group has sent 1,000 ventilators, 4,850 oxygen concentrators to India and convened the chief HR officers of close to 200 companies to help their employees and their families, Ms Sethi said.

    Representatives of pharmaceutical firm Abbot and courier and shipping firm FedEx were among the companies present at the USISPF meeting, industry sources told The Hindu.

    Mr. Jaishankar also spoke on the phone with the (Democratic) Chairman of the House Foreign Affairs Committee, Gregory Meeks and its ranking member (Republican) Michael McCaul. He also had a phone call with House India Co-Chairs Steve Chabot (Republican).

    Brad Sherman, the other co-chair, was among those present at a dinner for Mr. Jaishankar on Wednesday, at the house of Indian Ambassador Taranjit Singh Sandhu. Others present there, according to US official sources, included Virginia Senator Tim Kaine, Senator Michael Bennet from Colorado and Jon Ossoff, the new Senator from Georgia.

    On Friday, May 28, the Minister is scheduled to meet with Defense Secretary Lloyd Austin and Secretary of State Antony Blinken who has been on a trip to Egypt and West Asia since Monday.

    According to sources, the high-level (Minister level) meetings with the Treasury, Commerce and Energy Departments, US Agency for International Aid (USAID) and the National Science Foundation are likely to take place during Mr Jaishankar’s visit to Washington.

    (With inputs from PTI)

  • Indian American Arun Venkataraman Appointed to Key Administration Post

    Indian American Arun Venkataraman Appointed to Key Administration Post

    WASHINGTON (TIP):  US President Joe Biden has announced his intent to nominate Indian-American trade expert Arun Venkataraman to a key position in his administration related to foreign commercial service.

    Arun Venkataraman is the nominee for Director-General of the United States and Foreign Commercial Service and Assistant Secretary for Global Markets, Department of Commerce, the White House said on Wednesday, May 26.

    With over 20 years of experience in advising companies, international organizations, and the US government on international trade issues, Arun Venkataraman is currently the Counselor to the Secretary of Commerce, advising the department on trade and other international economic matters.

    Before joining the Biden-Harris administration, he was a senior director at Visa, leading global government engagement strategy on a range of international policy issues including digital economy, trade, tax, and sanctions.

    Arun Venkataraman previously served as the trade and investment policy advisor at Steptoe & Johnson LLP, where he counselled multinational firms and other organizations on e-commerce, intellectual property rights, and US and foreign trade policies. As the first-ever Director of Policy at the Department of Commerce’s International Trade Administration under President Barack Obama, Arun Venkataraman helped shape the US government’s responses to critical challenges faced by firms in the country and in markets around the world, including China and India, the White House said.

    While at the Office of the US Trade Representative (USTR), he led the development and implementation of the US-India trade policy as the Director for India, for which he received the agency’s Kelly Award for outstanding performance and extraordinary leadership.

    Arun Venkataraman also served as the associate general counsel, representing the United States in litigation before the World Trade Organization (WTO) and in negotiations on international trade agreements.

    Before joining the USTR, Arun Venkataraman was a legal officer at the WTO, advising the organization on a wide range of issues raised in appeals of trade disputes between countries. He began his career as a law clerk for Judge Jane A Restani at the US Court of International Trade. He holds a JD from the Columbia Law School, a Master of Arts in Law and Diplomacy from the Fletcher School of Law and Diplomacy, and a BA from Tufts University.

  • Digital services taxes adopted by India and 10 countries a trade irritant with US

    Digital services taxes adopted by India and 10 countries a trade irritant with US

    The US has already scrapped zero duty preference on some Indian imports

    WASHINGTON (TIP): After the US scrapped zero duty preference on some Indian imports and arm-twisted India into purchasing shale oil, Washington has now started a probe into digital services taxes, either adopted or being considered by 10 countries including India.

    The United States Trade Representative (USTR) will conduct the probe under Section 301 of the Trade Act.

    India, however, will get the opportunity to defend the tax.

    India is no stranger to the USTR investigations, having been probed several times on various grounds.

    “US President Donald Trump is concerned that many of our trading partners are adopting tax schemes designed to unfairly target our companies. We are prepared to take all appropriate action to defend our businesses and workers against any such discrimination,” said USTR Robert Lighthizer in a statement.

    Four years back, India levied six per cent tax on for advertisements hosted on offshore businesses such as mobile phone apps, social media platforms and digital content streaming services.

    This was fine with the USTR, but it has opposed the latest Union Budget expanding the scope of the equalization levy (tax) to revenues generated by non-resident e-commerce firms operating in India.

    Though the levy is two just two per cent, the US is keen on a probe.

    (Agencies)