Washington, Feb 21: Days ahead of his India visit, US President Donald Trump on Thursday said the two countries could make a "tremendous" trade deal.
"We're going to India, and we may make a tremendous deal there," Trump said in his commencement address at the Hope for Prisoners Graduation Ceremony in Las Vegas.
Trump, accompanied by First Lady Melania Trump, is scheduled to travel to Ahmedabad, Agra and New Delhi on February 24 and 25.
Ahead of the visit, there have been talks about India and the United States agreeing on a trade package as a precursor to a major trade deal.
During his commencement address, Trump indicated that the talks on this might slowdown if he did not get a good deal.
"Maybe we'll slow down. We'll do it after the election. I think that could 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 like it or not, we're putting America first," Trump said.
Bilateral India-US trade in goods and services is about three per cent of the US' world trade.
In a recent report, the Congressional Research Service (CRS) said the trading relationship is more consequential for India -- in 2018 the United States was its second largest goods export market (16.0 per cent share) after the European Union (EU, 17.8 per cent), and third largest goods import supplier (6.3 per cent) after China (14.6 per cent) and the EU 28 (10.2 per cent).
"The Trump Administration takes issue with the US trade deficit with India, and has criticised India for a range of 'unfair' trading practices," the CRS said.
"Indian Prime Minister Modi's first term fell short of many observers' expectations, as India did not move forward with anticipated market opening reforms, and instead increased tariffs and trade restrictions," it said.
"Modi's strong electoral mandate may embolden the Indian government to press ahead with its reform agenda with greater vigour. Slowing economic growth in India raises concerns about its business environment," CRS said.
As per a fact sheet issued by the Council on Foreign Relations (CFR), trade in goods and services between the two countries from 1999 to 2018 surged from $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 United States 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 United States for two years now has set out in stone pretty clearly the things that they wanted to see to try to get an agreement, and it's basically then on India's doorstep on whether they want to take those steps," Rick Rossow, Wadhwani Chair in US-India Policy Studies at the Center for Strategic and International Studies think-tank told reporters during a conference call.
"The list of US asks has been pretty static all throughout. Not to say that any of these things are easy for India to do, but the United States to my knowledge didn't change the goalposts just because we now consider India to be a middle-income country. The things that we wanted to see happen to get this trade agreement have been pretty static all throughout, no matter how difficult they are," he said in response to a question.
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If anyone have good suggestion to give will appreciate, otherwise get off u ass.
Khad asa bod na ..... wage earners will have to visit the bank Atm daily to collect yesterdays wages.... provided the owner transfers the money in time
Yes it will Cash less... but also with people less..
Tax is like 'Herding', the way a shepherd herds the animals to reach the destination, Govt. is doing the same by herding the people towards banking cartels. This is why they created 'cash crunch' and issuing Rs.2000 note first instead of Rs.500 is the reason for it. There is a greater agenda that is happening all over the world, under the guidance of UN, IMF and World Bank, in order to bring humanity under one umbrella, so that every economic activities can be controlled and monitored by \few\" who wants to rule the world and bring about one world government, one religion, one culture, one money (digital), one economic system and one civil society. In order to achieve this, they do not care if people face problems, they have to do this some how. As such digital money is just some digital pulses, they can easily manipulate the world through this. Already PM yesterday told us that he did the demonetization \"on the recommendation of RBI\". And the RBI gets recommendation from IMF and World Bank. Our Prophet (s.a.w.s) about Dajjal and his trials, which will be greatest trials that humanity will undergo. Dajjal will emerge hoping people development s and prosper, our prophet (s.a.w.s) told us that his heaven is hell and his hell is actually heaven. Dajjal yet to emerge among our midst, but the process to make his rule effective world over, is already happening in our midst. Dajjal sees with only one eye, i.e., this Dunia and other eye is completely shut, the eye of Akhira. Most of the education, economic , political systems in our midst have already removed the words religion and God. Only one thing I have to say during these trials, is to keep our faith in tact."
Mr. Modiji, we have 30-40% illiterates.....how you are going to convince and help them to use bank debit and credit cards....
This is a good idea, this will stop corruption, no doubt at all.....
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