Trade deal with tariff king India by year-end: Trump

NEW DELHI: US President Donald Trump on Tuesday indicated that the much-awaited “big trade deal” with India could be concluded towards the end of the year, while reaffirming his stand that India charges the “highest tariffs”.Addressing a press conference after official talks, Trump referred to the impending trade deal, saying it was within grasp. “If the trade deal happens with India, it will be towards the end of the year,” he said in response to a question.“Our teams have made tremendous progress on a comprehensive trade agreement, and I am optimistic we can reach a deal that will be of great importance to both countries,” he said.However, Trump did not hide his disappointment when he said India probably levies the highest tariffs in the world. “Harley-Davidson has to pay tremendous tariff when they have to sell in India. Look, the US has to be treated fairly.”The two countries had initially planned to sign a ‘mini trade deal’ in time for Trump’s visit, but that proved elusive.I’m Not Going to Be Controversial, Says TrumpInstead, both sides are now aiming for a bigger package, including possibly a free trade agreement.74310321 The US President refrained from making any comments on the ongoing CAA-linked violence in Delhi. “I will leave that for India to deal with.”But he said he did raise the issue of religious freedom. “And let me tell you, I had a very powerful answer from the Prime Minister. They have 200 million Muslims in India.”While he appeared frustrated over Indian tariffs, Trump was all praise for growing Indian investments in the US. “At the CEO roundtable, many expressed their desire to invest in the US. We had a great time in India. The countries signed a $3-billion chopper deal.”The President said an Indian steel magnate is setting up a $1-billion steel plant in Alabama. This will come in handy for Trump, who is seeking re-election in November.“If I were not elected, the aluminium industry in the US would have been dead. The steel industry would have been dead too,” Trump told Indian industrialists in a separate meeting.Trump, the fourth US President to visit the country since 2000, said India is going to be a major player in the next 50-100 years. “India is going to have a phenomenal future.”In the same context, he referred to his chemistry with PM Modi. “We had a great time. We had great meetings... This is a tremendous country. I think they like us more than they ever liked us. There is a great relationship between the Prime Minister and myself.”The $3-billion defence deal drew praise from the US President on several occasions, including at the press meet. “India is buying a lot of defence hardware,” he said.“I am not going to be controversial... I don’t want to blow the two days plus two days of travel on one answer, one little answer... So I will be very conservative in my answers, if you don’t mind,” Trump said at the beginning of the interaction with press persons.

from Economic Times https://ift.tt/2T2BCkd