India-US commerce deal: Democratic Congresswoman Sydney Kamlager-Dove, on December 10, sharply criticised US President Donald Trump’s dealing with of the India–US relationship, warning that his insurance policies danger undoing years of diplomatic progress.
Her feedback come on the again of huge 50% tariffs on India — among the many highest on any nation — and the implementation of the steep hike in H-1B through charges, of which Indians are the largest benefactors.
A video shared by CNBC TV-18 confirmed Kamlager-Dove saying that Trump inherited one of many strongest bilateral partnerships in years — a revitalised Quad, deepening defence expertise cooperation, and a trusted supply-chain partnership rigorously constructed below the Biden administration.
Nevertheless, she argued that a lot of this diplomatic capital has since been “flushed down the bathroom” as a result of Trump’s private grievances slightly than long-term nationwide pursuits.
‘Trump would be the American president who misplaced India’
Kamlager-Dove, talking throughout a listening to on US international coverage, issued a stark warning, saying that until Trump adjustments course, he dangers being remembered because the American president that misplaced India — or extra precisely, that chased India away — whereas revitalising the Russian Empire, breaking apart the transatlantic alliance, and menacing Latin America.”
She additional argued that Trump’s antagonism in direction of India started not from the US’s long-term strategic pursuits however slightly his private obsession with a Nobel Peace Prize. “Whereas that’s laughable, the hurt that it’ll trigger isn’t.”
Singling out India for 50% tariffs has successfully derailed leader-level conferences between the 2 nations, she argued. Furthermore, the 25% tariff price that has been attributed to India’s imports of Russian oil appears to be like fairly pointless when Trump allies allegedly engaged in “backroom offers” with Putin’s advisers, she stated.
In the meantime, earlier at the moment (December 12), based on Chief Financial Adviser V. Anantha Nageswaran, India and america have resolved most of their excellent commerce points, and a long-awaited bilateral commerce deal now seems more and more probably by March, based on a report within the Financial Occasions.
Within the backdrop of the elusive India-US commerce deal, the Indian rupee has taken a big knock, slumping to a contemporary file low of 90.48 towards the US greenback. In the meantime, the Indian inventory market additionally stays rangebound as traders await the deal.
H-1B visa hike hurts people-to-people ties
Past commerce and diplomacy, Kamlager-Dove criticised the administration’s dealing with of immigration, notably a proposed $100,000 charge on H-1B visas, 70% of that are held by Indian professionals.
She referred to as the measure a direct assault on the sturdy Indian diaspora group and its contributions to American science, expertise, medication, and the humanities.
Disclaimer: This story is for academic functions solely. The views and proposals expressed are these of particular person analysts or broking corporations, not Mint. We advise traders to seek the advice of with licensed consultants earlier than making any funding selections, as market circumstances can change quickly and circumstances could differ.
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