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US: Modi’s Visit:  Trade Imbalances in Focus. 

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  • As the press conference concludes between Trump and Modi’s meetings, some key takeaways have come from the meeting.
  • The key areas they have agreed of further opportunities are energy and infrastructure, artificial intelligence and semi-conductors, rare earth mining  and the pharmaceutical sector.
  • As the leader of one of the world’s largest economies, Mr. Modi’s visit, in the midst of President Trump threatening tariffs, was dominated by the issue.
  • President Trump saying openly that “India has the highest level of tariffs of any of the US trading partners.”  Going on to note “I had discussions with India in the first term about the fact that their tariffs were very high, and I was unable to get a concession,” Trump adding, “ So we’re just going to do it the easy way. And we’re just going to say: ‘Whatever you charge, we charge.'”
  • During the press conference Trump then said that he welcomes a recent decision by India to reduce tariffs, as a start.
  • The President then spoke to the trade deficit that the US has with India and that the talks were the start of more, aimed at strengthening the trade alliance and balancing it more in the US's favour.   
  • In that context the President indicated that military ties with India are to be strengthened via the increase of military sales.
  • The focus on the value of the trade deficit should be a warning to other countries in Asia where significant imbalances rest.
  • India generally runs a trade deficit whilst several of its key regional peers run huge surpluses, risking the ire of President Trump. 
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  • As the press conference concludes between Trump and Modi’s meetings, some key takeaways have come from the meeting.
  • The key areas they have agreed of further opportunities are energy and infrastructure, artificial intelligence and semi-conductors, rare earth mining  and the pharmaceutical sector.
  • As the leader of one of the world’s largest economies, Mr. Modi’s visit, in the midst of President Trump threatening tariffs, was dominated by the issue.
  • President Trump saying openly that “India has the highest level of tariffs of any of the US trading partners.”  Going on to note “I had discussions with India in the first term about the fact that their tariffs were very high, and I was unable to get a concession,” Trump adding, “ So we’re just going to do it the easy way. And we’re just going to say: ‘Whatever you charge, we charge.'”
  • During the press conference Trump then said that he welcomes a recent decision by India to reduce tariffs, as a start.
  • The President then spoke to the trade deficit that the US has with India and that the talks were the start of more, aimed at strengthening the trade alliance and balancing it more in the US's favour.   
  • In that context the President indicated that military ties with India are to be strengthened via the increase of military sales.
  • The focus on the value of the trade deficit should be a warning to other countries in Asia where significant imbalances rest.
  • India generally runs a trade deficit whilst several of its key regional peers run huge surpluses, risking the ire of President Trump.