Days before his India visit, US President Donald Trump on Thursday said the 2 countries could make a “tremendous” trade deal.
“We’re getting to India, and that we may make an incredible deal there,” Trump said in his commencement address at the Hope for Prisoners Graduation Ceremony in Las Vegas .
Trump, amid First Lady Melania Trump, is scheduled to visit Ahmedabad, Agra and New Delhi on February 24 and 25. before the visit, there are talks about India and therefore the us agreeing on a trade package as a precursor to a serious trade deal.
During his commencement address, Trump indicated that the talks on this might hamper if he didn’t get an honest deal. “Maybe we’ll hamper . We’ll roll in the hay after the election. i feel that would happen too. So, we’ll see what happens,” he said.
“But we’re only making deals if they’re good deals because we’re putting America first. Whether people love it or not, we’re putting America first,” Trump said.
Bilateral India-US trade goods and services is about three per cent of the US’ world trade.
As per a fact sheet issued by the Council on Foreign Relations (CFR), trade goods and services between the 2 countries from 1999 to 2018 surged from USD 16 billion to $142 billion.
India is now the United States’ eighth-largest trading partner in goods and services and is among the world’s largest economies. India’s trade with the us now resembles, in terms of volume, the US’ trade with South Korea ($167 billion in 2018) or France ($129 billion), said Alyssa Ayres from CFR.
“The us for 2 years now has began in stone pretty clearly the items that they wanted to ascertain to undertake to urge an agreement, and it’s basically then on India’s doorstep on whether or not they want to require those steps,” Rick Rossow, Wadhwani Chair in US-India Policy Studies at the middle for Strategic and International Studies think-tank told reporters during a call .
“The list folks asks has been pretty static all throughout. to not say that any of those things are easy for India to try to to , but the us to my knowledge didn’t change the goalposts simply because we now consider India to be a middle-income country. the items that we wanted to ascertain happen to urge this trade agreement are pretty static all throughout, regardless of how difficult they’re ,” he said in response to an issue .