Use of tariffs stems from the urgency to curb rising US trade imbalance. US trade deficit in goods widened to $1.2 trillion in calendar year 2024 from $1.06 trillion in 2023.
Both leaders have vowed to realise the US-India 123 Civil Nuclear Agreement, work to build US-designed nuclear reactors in India through localisation & possible tech transfer.
Trump understands the shock value of his actions and uses it to great effect. He enacted orders focusing on low hanging fruits like immigration, but not China or the Russia-Ukraine war.
The step signals America’s ‘belief’ in ties with India, Jake Sullivan said during his two-day visit to India. He met with Jaishankar, Modi & counterpart Doval during the short stay.
India-US trade in first 3 yrs under Biden was $122 bn, while it was $83 bn in Trump’s first term. Average trade surplus in India’s favour grew from $18 bn under Trump to $31 bn under Biden.
India must leverage its state capacity to implement policies that support businesses while avoiding coercive actions that create chilling effects on companies and investments.
Shipping experts & economists say impact on coal-importing countries is likely to be negligible, and India could potentially gain from this disruption if it's agile enough.
The 10-year dispute was over whether India conformed with WTO rules when it banned import of poultry from US over bird flu fears. Move follows settling of 6 other issues in June.
Without the govt enabling the public and private sectors, the deals signed between Modi and Biden won't realise their potential in strengthening India’s military power.
India also agreed to remove retaliatory tariffs on 28 American products like chickpeas, lentils, almonds, walnuts, apples etc. that were imposed in June 2019.
SRK's impromptu party looked refreshingly ‘normal’ and as cool as the Birthday Boy himself. King of Kool could be another tag for the man who once declared himself 'the last of the stars'.
The chipmaker at the heart of the AI revolution may be the most influential stock in Wall Street history. Nvidia has been the primary driver of the market’s gains since the start of 2023.
ISRO’s LMV3 rocket set off the CMS-03 satellite from Sriharikota Sunday. It weighs 4,410 kg, will primarily serve Indian Navy and has a life of at least 15 years.
This world is being restructured and redrawn by one man, and what’s his power? It’s not his formidable military. It’s trade. With China, it turned on him.
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