Washington, Feb 19: US President Donald Trump has said he is "saving the big deal" with India for later and he "does not know" if it will be done before the presidential election in November, clearly indicating that a major bilateral trade deal during his visit to Delhi next week might not be on the cards.
"We can have a trade deal with India. But I'm really saving the big deal for later," he told reporters at Joint Base Andrews Tuesday afternoon (local time).
The US and India could sign a "trade package" during the visit, according to media reports.
Asked whether he expects a trade deal with India before the visit, Trump said, "We're doing a very big trade deal with India. We'll have it. I don't know if it'll be done before the election, but we'll have a very big deal with India."
US Trade Representative Robert Lighthizer, the point-person for trade negotiations with India, is likely to not accompany Trump to India, sources said. However, officials have not ruled it out altogether.
In an apparent dissatisfaction over US-India trade ties, Trump said, "We're not treated very well by India." But he praised Prime Minister Narendra Modi and said he is looking forward to his visit to India.
"I happen to like Prime Minister Modi a lot," Trump said.
"He told me we'll have seven million people between the airport and the event. And the stadium, I understand, is sort of semi under construction, but it's going to be the largest stadium in the world. So it's going to be very exciting... I hope you all enjoy it," he told reporters.
Meanwhile, the US-India Strategic and Partnership Forum (USISPF) in a report said the latest quarterly data depict continuation of overall positive bilateral trade trends. The third quarter data reflects some downslide in growth rates.
"It may be due to several reasons, including the unexpected economic slowdown in India's economic growth, impact of US-China trade war, GSP withdrawal from the US side and retaliatory tariffs on specific US goods from the Indian side," USISPF said.
According to the report, the data available for the first three quarters of 2019 (January-September) pulled the overall growth rate in cumulative bilateral trade down to 4.5 percent from 8.4 percent registered for the first two quarters.
Goods and services trade performance in third quarter was dismal at -2.3 percent, in contrast with the impressive 9.6 percent growth witnessed for the first two quarters of the year; while trade in services was up two percent goods trade dropped five percent, the report said.
The cumulative US-India trade in goods and services (USD 110.9 billion) for the first three quarters of 2019 increased 4.5 percent with US exports and imports growing at four percent and five percent respectively.
The US exported USD 45.3 billion worth of goods and services to India in the first three quarters 2019, up 4 percent from the corresponding period in the previous year; and the US imported USD 65.6 billion worth of goods and services from India, up five percent from the previous year's USD 62.5 billion level for the same period, it said.
The USISPF has projected that the total bilateral trade can touch USD 238 billion by 2025 if the current 7.5 percent average annual rate of growth sustains; however, higher growth rates can result in bilateral trade in the range of USD 283 billion and USD 327 billion.
The US remains the top trading partner for India in terms of trade in goods and services, followed by China. While the bilateral trade between US and India is approximately 62 percent in goods and 38 percent in services, the bilateral trade between India and China is dominated by goods.
China had a huge trade surplus of USD 58 billion with India, indicating Beijing's strength in the Indian market, especially in sectors, such as electronics, machinery, organic chemicals, plastics and medical devices.
The US goods exports to India, in comparison, were mainly concentrated in mineral fuels, precious stones, and aircraft. The US faces tough competition with China in the Indian market in areas such as electronics, machinery, organic chemicals and medical devices.
Comments
Sngha parivar sarkar and Corporate pulled India 10 years back and Looting India by increasing price for oil, gas and other products, neglecting farmers, unorganised sectors, drop in GDP, high cost living, middle class people dropped thier status to poor category, no planning comision, no pancha warshika yogana.....
for common people India became hell and totally frustrated. Rulers are wwasting time to divide india in the name of religion instead of working on developments. Uneducated and stupid personality like him ruling India including burocrates. qualification is not a eligibility to rule in India. Only hate mongers are selected for all the positions. We cannot blame them as the great fools are Peoples of India repeatedly electing hate mongers. will dream "acche din ayega" jai hind
Who he is "BASTURD" chopping finger; if it is against "Stupid modi"
Cheddi sandesh spotted..!
Well said mr. Nityanand Rai. Unculture Indian people dont know how to respect our hon. PM
I am rising my middle finger against Modi. Fool. Chop my finger
If you talk againts INDIAN constituiton ready to face the worst or public may drag you from the position.
Modi is the PM elected represnetative not a God. World has seen several dictators and thier worst end.
So suggest not to jump.
All the comments all we hear is the man agenda and advise from Nagpur else who will talk such anti INDIA slogans.
The more U bring people to do EVIL , the more, RSS will reward the bow bow leaders. and a fact done with the devils to destroy the young hindu generation to do evil in the society.
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