India has already conceded to a lot of what the US wanted. The Trump administration will have to shift focus away from the trade negotiations to local politics where the President’s ratings are waning.
India suddenly finds itself on the backfoot, hobbling around with a searing stab of pain up its ribcage. It’s long-standing, vociferous “friend” in the White House has bowled a bouncer. Suddenly, we’ve gone from just “India has high tariffs” and “India is tough to do business in” to “they have the most strenuous and obnoxious non-monetary trade barriers” and “India has a dead economy”.
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