Friday, April 25, 2025

"India may be first to sign trade deal, says US Treasury Secretary Scott Bessent"

Vice-President Vance and wife Usha were in India a few days ago, she was the star:

JD Vance says his wife Usha has received ‘celebrity’ treatment in India 

From the Indian Express, April 25:

India-US Trade Deal: According to a New York Post report, Bessent told a group of journalists on Wednesday that trade talks with India are “very close” to reaching a successful conclusion as it doesn’t have “so many high tariffs.” 

India-US Trade Agreement: US Treasury Secretary Scott Bessent has said that India is likely to become the first nation to finalise a bilateral trade agreement with the US — a development that would help New Delhi sidestep the 26 per cent reciprocal tariffs that have been paused till July.

According to a New York Post report, Bessent told a group of journalists on Wednesday that trade talks with India are “very close” to reaching a successful conclusion as it doesn’t have “so many high tariffs.” “India also has fewer non-tariff trade barriers, obviously, no currency manipulation, very, very little government subsidies, so reaching a deal with the Indians is much easier,” he said.

A bilateral trade agreement (BTA) between India and the US, proposed during Prime Minister Narendra Modi’s meeting with US President Donald Trump in Washington in February, seeks to more than double trade to $500 billion by 2030 from over $190 billion at present....