Thanks to the county’s rapid pace of economic growth, India could become an even more important trade partners for the Washington economy, and Washington farmer could benefit.  But ongoing global trade conflicts may put those potential benefits at risk, according to a new report released by the Washington Council on International Trade.  Lori Otto Punke, President of the WCIT, said Washington and India have enjoyed a store trade relationship for years.

 

“We’re now the 4th largest state in the U.S.in terms of exports to India of any state, and that’s only behind California, New York and Texas, and it’s definitely been growing.  So, I think India is an incredibly important strategic partner and getting more so year over year.”

 

Punke added Washington growers that will see the quickest benefit from an improved trade relationship with India include the fruit and nuts industry, as well as vegetable growers.  However, she noted the 232 Steel and Aluminum Tariffs, or the metal tariffs, have really dampened the trade atmosphere between the U.S. and India, leading to retaliatory tariffs that have targeted Washington Ag.

 

“You know, apples are a key component of what we export to India, and it’s been one of the biggest areas of growth over the years, but the impact of the tariffs has really had a negative impact on the Washington state apple economy, so we’re watching that very closely, and we really need to make sure that our trade disputes with India are resolved quickly.”

 

Earlier this year, India placed a 25% tariff on U.S. apples and a 10% tariffs on chickpeas and lentils.  India’s GDP is expected to grow 7.6% annually between now and 2024.

 

 

 

 

 

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