Vikrant Shekhawat : Jan 29, 2025, 07:40 PM
Donald Trump News: There are constant discussions around the world about the trade policies of former US President Donald Trump. India is also cautious about the impact of the 'America First Trade Policy' implemented by him and is doing a legal review of it. The Indian government is trying to understand what impact this policy will have on India-US trade relations.India is doing a detailed reviewIndia's Union Ministry of Commerce and Industry is doing a paragraph-wise review of Trump's trade policy. Under an executive order issued last week, Trump has ordered to identify countries with which the US can enter into trade agreements at the bilateral level. Apart from this, he has also announced to impose additional tariffs on several trading partners to balance America's trade deficit.Possible impact on India-US tradeIndia's trade surplus with the US is currently around $35 billion. In such a situation, this policy becomes important for India.Donald Trump has requested Prime Minister Narendra Modi to buy more weapons and security equipment. The possible meeting between the two leaders next month can clarify the direction of this policy.Impact on WTO and global tradeDonald Trump has also talked about reviewing the trade agreements of the World Trade Organization (WTO) under his policy. He believes that countries like India, China and Brazil impose high tariffs on American products harm America. He has also warned of imposing 100 percent tariffs on BRICS countries if they trade in any other currency instead of the dollar.What is the future path?Due to Trump's policies, India needs to strengthen its trade strategy further. America is an important trading partner for India and mutual cooperation between the two countries will remain necessary. In view of this policy, India will have to strengthen its export strategy and strike a balance in trade talks.