President Trump and Prime Minister Modi have plenty in common, but that doesn’t include a desire to quickly lower trade barriers between the two countries.

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Source: New York Times

WASHINGTON — Call it the art of the mini-deal.

The Trump administration is on the cusp of announcing a new trade deal with India, potentially within the next week as President Trump prepares to meet with Prime Minister Narendra Modi of India.

It should be a proud moment for Mr. Trump, who is eager to announce new markets for American farmers and manufacturers who have been badly hit by his trade war with China. But unlike traditional trade pacts, which cover nearly all sectors of the economy, the India deal appears likely to be confined to only a few sectors and products.

Nisha Biswal, the president of the U.S.-India Business Council at the U.S. Chamber of Commerce, said starting with a smaller deal makes sense because the countries have not agreed on much in the past when it comes to trade.

“For most of our trading history, we have come at each other more as combatants than collaborators,” she said. “We should start with these building blocks and move toward a more comprehensive architecture over time.”


Source: New York Times