Even limited deal unlikely during Trump’s trip: US Officials
Trump administration officials on Friday ruled out the possibility of even a limited trade deal during US President Donald Trump’s maiden trip to India. They also said that a lot of USA’s concerns related to the suspension of India’s tariff free access for some US$ 5.6 billion in exports under the Generalized System of Preferences still persist.
This is hardly surprising since quite a few thorns have emerged in the trade relations between the two countries pertaining to agriculture, medical devices, digital trade and proposed new tariffs fester. On 1st February, the budget had proposal had announced announced new import tariffs on medical devices, walnuts, toys, electronics and other products in a move aimed at reducing imports from China but affecting many US firms. Further, new Indian tariff proposals aimed at strengthening the country’s “Make in India” domestic manufacturing push have also complicated the matter.
2018-19 data from the Commerce & Industry Ministry has revealed that surpassing China, the USA has emerged as India’s top trading partner. The bilateral exchange between the US and India added up to USD 87.95 billion.
