(AP)The US wants India to eliminate trade barriers for American companies and remove restrictions with regard to data localisation to cut the cost of doing business, visiting US commerce secretary Wilbur Ross said on Tuesday. Ross was speaking at the Trade Winds Forum and Trade Mission. It has for example a 60 per cent tariff on auto, while the US has 2.5 per cent. It has 50 per cent tariff on motorcycles and 150 per cent on alcoholic beverages. Referring to trade imbalance with India, the commerce secretary said the US accounts for 20 per cent of India's total exports.

Source: The Telegraph May 07, 2019 10:07 UTC