After threats. After being pushed. After playing the blame game, the tables have turned. The U.S. was talking tough just a few days ago:
Threatening tariffs of 500% • Saying that the India–US trade pact fell apart because PM Modi didn't call Trump
Now? Washington wants to start trade talks again right away. What happened?
1️⃣ The India–EU FTA is almost done. India's free trade deal with the EU is almost done, and it might be unveiled by the end of January. After that, the U.S. will have a lot less power in trading with India.
2️⃣ Tariff pressure didn't work at all Tariffs from the Trump administration impact other countries, not India:
Bangladesh (19%) → exports down 11%
Pakistan (19%) → exports go down by 30%
Vietnam (20%) → exports down 7%
China (20%) → exports down 19% India?
India - Even with 50% tariffs, shipments went up by 22%.
The real tale is Donald Trump kept making things worse with his words, but Narendra Modi quietly opened up new markets and hit trade fundamentals where it hurt.
The U.S. wants to talk now. India is willing to work with others, but not forcefully. India is involved today. India talks today. But you can't bully India today. This is new India. This is Modi’s era. 👌🏼👏🏼👏🏼
@ShashiTharoor@ShashiTharoor Thy adamantine recalcitrance against ignominious subjugation is redoubtable, yet expound how this contumacious resolve buttresses our oeconomic rampart 'gainst U.S. tariffs and global contumely. A luculent stratagem is exigent!
According to Reuters, President Donald Trump is expected to visit Pakistan in September, prior to attending the Quad meeting in India. The purpose of his visit remains unclear — what might his agenda entail?