India offers soybean exports to China amid trade war with US

Prime Minister Narendra Modi emerges from his plane as he is welcomed on arrival at Arlanda Airport in Stockholm Sweden

Prime Minister Narendra Modi emerges from his plane as he is welcomed on arrival at Arlanda Airport in Stockholm Sweden

Pitching these items to China, Niti Aayog vice-chairperson Rajiv Kumar said Beijing annually imports agricultural products worth billions of dollars but it had recently proposed duties on the two commodities usually imported from USA states such as Iowa.

China on Monday asserted that belongs to it and India should have "learnt lessons" from the stand-off past year, days after India's envoy blamed China for the face-off saying it happened because Beijing tried to alter the "status quo" in the disputed area. "I was noticing that there are some tariffs you imposed on farmers' from Iowa and Ohio". Maybe India can substitute for something like soybeans and sugar if we could have access to those exports with all the due quality considerations for that you might have on our farmers.

He said China and the United States had announced their intention to impose tariffs on imports but had not given any dates yet, which showed they were only "posturing".

Beijing was quick to fire back by imposing taxes on 106 USA products.

China recently proposed a 25 percent tariff on American soybeans as part of a trade dispute that escalated when the U.S. administration unveiled plans to impose tariffs on $50 billion in Chinese imports. He said the "cyclical and synchronised recovery in the world economy" had been "marred and disrupted by some unseemly protectionist noises that are coming out of the Atlantic basin in North America and Europe".

He highlighted that "the emerging economies of Asia seem to have ignored the protectionist noises and we have continued to grow at very high rates of speed with China growing at 6.8% and India growing at 7-7.2%". During the dialogue, he met his Chinese counterpart He Lifeng, the chairman of China's top planning body, National Development and Reform Commission.

Hua said China's ties with India have seen new progress and all-round cooperation this year.

"We both have to do ease of doing business so that our procedures, red tape, and non-tariff barriers get sorted out so that investors from both the countries in their respective fields get the investment opportunities". "We could take the lead in identifying the clusters and make them a reality", he said. "This is a honest request for reciprocity which is that we have liberalised all the business regimes for Chinese businessmen".

Considering the massive success of "Dangal" and several other Indian films in China, the two countries should form two more steady groups on culture and pharmaceuticals.