US President Donald Trump said he would later “save the big deal” with India and “don’t know” whether it would be done before the November presidential election. President Trump clearly shows that a major bilateral trade deal may not be on the cards during his visit to Delhi next week.
Trump is due to visit India on 24 and 25 February. Before the visit, Trump was asked if he wants a trade deal with India.
US Trade Representative Robert Lighthizer, the trade negotiating point person with India, is unlikely to join Trump to India, reports said. Officials didn’t rule it out entirely, though.
Yet he thanked Prime Minister Narendra Modi, saying he looks forward to visiting India.
Meanwhile, in a survey, the US-India Strategic and Partnership Forum (USISPF) said the recent quarterly data reflects a continuation of overall positive trends in bilateral trade. Data from the third quarter show some slowdown in growth rates.
The available data for the first three quarters of 2019 (January-September) is as per the survey. It dragged the overall growth rate in cumulative bilateral trade. It is down to 4.5 per cent from 8.4 per cent for the very first two quarters. The performance of trade in goods and services in the third quarter was sluggish at -2.3 per cent. It is compared to the impressive 9.6 per cent growth in the first two quarters of the year. While trade in services was up 2 per cent, trade in goods dropped 5 per cent, the report said.
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