India and US sign trade agreement worth $10 billion, USTR to visit India for

New Delhi: US Trade Representative (USTR), Robert Lighthizer will be visiting India in the next month. Trade discussions will be held between the two countries during the visit of the USTR. US President Trump is scheduled to visit India at the end of February. The trade discussions between the two countries, before this visit, become significant. It is being said that India and the United States will be signing trade agreement worth $10 billion.

India exported goods worth $5.4 billion in the financial year 2018-19. Whereas, the United States has exported goods worth $35.5 billion to India. It is being said that Robert Lighthizer will come to India in February second week and there will be discussions on some important issues of mutual interest.

Agreements worth $10 billion are scheduled to be signed during President Trump’s visit to India, in February. Reports are being published in the media regarding this. Claims are also being made that this will end the trade tensions reigning between the two countries for some time. In the past, these two countries have expressed an ambition, to take the bilateral trade to $500 billion. In the times of current recession-like situation, the efforts of India and the United States to strengthen trade ties become important.

The US-China trade war had hit the global economy. Currently, both China and the United States are claiming that the trade war has ended. But the United States has announced that it will not withdraw the imposed taxes unless China accepted its demands. As per analysts, although both China and the United States claim that the trade war has ended, the second round of the trade war can start any time. At the same time, analysts are pointing out that the political disputes between China and the United States are intense and they could once again spark the trade war.

Against this background, the trade cooperation between the United States and India seems to be becoming inordinately important on the strategic level.