Instead of China-India trade, US-India trade relations have improved in recent years. So the United States occupies the position of India’s leading trade country. US President Donald Trump is on a two-day visit to India today. It is expected that trade relations between the two countries will be further strengthened.
20 and-1. Bilateral trade between the United States and India is $ 87.95 billion in the fiscal year. At the same time, India’s trade with China stood at $ 1.8 billion.
The trade war between China and the United States has intensified since 2018. This was followed by a huge crackdown on bilateral trade relations. India’s trade relations with the United States were without issue.
Trade with China
US-India trade stood at $ 1 billion between April and December of the current fiscal year. That’s $ 9.96 billion with China.
India’s trade with China was further hampered by the outbreak of China’s Kovit 1 virus (coronavirus).
Experts say the US-India trade relationship will strengthen after Trump’s arrival. Likewise, if there is a free trade agreement between the two countries, it will lead to bilateral trade relations.
India’s exports to the United States are increasing. India will benefit from generous business relationships. The United States is considered to be a major market for Indian internal products and services.
At the same time, both China’s exports and imports with China are declining. China was India’s leading trade country from 2013-14 to 2017-18. Prior to that, India had a strong trade relationship with the United States of America.
India has a trade surplus when it comes to trade relations with the United States. However, there is a trade deficit in relations with China.
India has to look for trade agreements with the United States. India should be especially careful in the trade of agricultural products and foodstuffs. Because the United States is at the top of the world in corn and soybean production. Indian production could suffer. India has therefore been asked to consider these agreements more carefully.
The United States and India are involved in negotiations on trade agreements. The deal is expected to be signed after Trump’s visit to India.
The prospect of America
India is currently conditioned to reduce the amount of US visas. Similarly, the Indian side also expects the United States to waive the tariffs on certain iron and aluminum products and provide higher prices to markets including agricultural, automotive and automotive parts.
Similarly, the US side hopes to allow India to export more dairy products and medical equipment. It also further stipulates that taxes on certain technology products need to be reduced. Trump’s visit is more likely to meet bilateral trade expectations.