Trump hints if he came to power against, will he sign a big trade deal with India

NEWS India Live, Digital Desk: Indo-Rus Relations: Former US President Donald Trump has given an important indication about the Indian market and business relations. Recently, he has intensified speculation by saying that if he once again becomes President, the US will soon sign an important trade agreement with India. Their goal is to get better access to the vast Indian market.

It is important to remember that during his first term, Trump emphasized his policy of ‘America First’ and excluded America from several global and regional trade agreements. He also imposed tariffs of 25% and 10% on products such as steel and aluminum on many countries including India. Additionally, in June 2019, India was also excluded from the American Generalized System of preferred program (GSP) program, which affected the export of billions of dollars from India.

This latest signal indicates that if they reach the White House again, they will remain on a strategy to prioritize their bilateral trade agreements, with special attention to big and growing markets like India. India offers an attractive opportunity for American products and services with its large population and growing middle class.

However, in his previous term, a trade agreement was held several times between the US trade representative and the Indian Commerce Minister, but no concrete result was found. The US had specifically demanded to reduce the high imports imposed by India on its agricultural products and other items. At the same time, India, GSP wanted the restoration of status and clarity on visa related issues for Indian professionals.

Trump’s theory of ‘America First’ will probably inspire him to stay on protectionist policies in business agreements even in his second term, allowing them to give supreme priority to protect American industries and jobs. A balanced trade agreement between India and the US can create huge economic opportunities for both countries, especially when global supply chains are reorganized. Now everyone’s eyes will be fixed on what the possible agreement takes by future.