Saving big trade deal with India for later, says US President Donald Trump

News Network
February 19, 2020

Washington, Feb 19: US President Donald Trump has said he is "saving the big deal" with India for later and he "does not know" if it will be done before the presidential election in November, clearly indicating that a major bilateral trade deal during his visit to Delhi next week might not be on the cards.

"We can have a trade deal with India. But I'm really saving the big deal for later," he told reporters at Joint Base Andrews Tuesday afternoon (local time).

The US and India could sign a "trade package" during the visit, according to media reports.

Asked whether he expects a trade deal with India before the visit, Trump said, "We're doing a very big trade deal with India. We'll have it. I don't know if it'll be done before the election, but we'll have a very big deal with India."

US Trade Representative Robert Lighthizer, the point-person for trade negotiations with India, is likely to not accompany Trump to India, sources said. However, officials have not ruled it out altogether.

In an apparent dissatisfaction over US-India trade ties, Trump said, "We're not treated very well by India." But he praised Prime Minister Narendra Modi and said he is looking forward to his visit to India.

"I happen to like Prime Minister Modi a lot," Trump said.

"He told me we'll have seven million people between the airport and the event. And the stadium, I understand, is sort of semi under construction, but it's going to be the largest stadium in the world. So it's going to be very exciting... I hope you all enjoy it," he told reporters.

Meanwhile, the US-India Strategic and Partnership Forum (USISPF) in a report said the latest quarterly data depict continuation of overall positive bilateral trade trends. The third quarter data reflects some downslide in growth rates.

"It may be due to several reasons, including the unexpected economic slowdown in India's economic growth, impact of US-China trade war, GSP withdrawal from the US side and retaliatory tariffs on specific US goods from the Indian side," USISPF said.

According to the report, the data available for the first three quarters of 2019 (January-September) pulled the overall growth rate in cumulative bilateral trade down to 4.5 percent from 8.4 percent registered for the first two quarters.

Goods and services trade performance in third quarter was dismal at -2.3 percent, in contrast with the impressive 9.6 percent growth witnessed for the first two quarters of the year; while trade in services was up two percent goods trade dropped five percent, the report said.

The cumulative US-India trade in goods and services (USD 110.9 billion) for the first three quarters of 2019 increased 4.5 percent with US exports and imports growing at four percent and five percent respectively.

The US exported USD 45.3 billion worth of goods and services to India in the first three quarters 2019, up 4 percent from the corresponding period in the previous year; and the US imported USD 65.6 billion worth of goods and services from India, up five percent from the previous year's USD 62.5 billion level for the same period, it said.

The USISPF has projected that the total bilateral trade can touch USD 238 billion by 2025 if the current 7.5 percent average annual rate of growth sustains; however, higher growth rates can result in bilateral trade in the range of USD 283 billion and USD 327 billion.

The US remains the top trading partner for India in terms of trade in goods and services, followed by China. While the bilateral trade between US and India is approximately 62 percent in goods and 38 percent in services, the bilateral trade between India and China is dominated by goods.

China had a huge trade surplus of USD 58 billion with India, indicating Beijing's strength in the Indian market, especially in sectors, such as electronics, machinery, organic chemicals, plastics and medical devices.

The US goods exports to India, in comparison, were mainly concentrated in mineral fuels, precious stones, and aircraft. The US faces tough competition with China in the Indian market in areas such as electronics, machinery, organic chemicals and medical devices.

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News Network
April 30,2024

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US fast-food chain KFC has been forced to close over 100 restaurants in Malaysia over a pro-Palestine boycott of the company.

The Straits Times reported on Monday that the American restaurant chain specializing in fried chicken had to reduce its operations across Malaysia, mostly in north-eastern Kelantan state, following calls for a boycott of the company amid protests over the US government’s backing of the Israeli regime in its genocide of the Palestinians in the besieged Gaza Strip.

Nearly 80 percent, or 21 KFC outlets, in Kelantan state stopped their operations, followed by 15 outlets in Johor and 11 in Selangor, the most industrialized state in Malaysia.

Citing a local Chinese-language newspaper, the Straits Times added the local franchisor of the Louisville, Kentucky-headquartered company in the Muslim-majority Southeast Asian nation, QSR Brands Holdings Bhd, is temporarily suspending operations in more than 100 KFC outlets after about half a year of boycott movement. “QSR Brands, which owns and operates the KFC fast-food franchise in Malaysia, is suspending 108 outlets nationwide.”

In this regard, chairman of the pro-Palestinian group Boycott, Divestment, Sanctions (BDS) in Malaysia, Professor Mohd Nazari Ismail, told the Singapore-based newspaper that, “KFC is not on the BDS list of targeted companies. But many Malaysians see any American fast-food operator to be related to Israel, including KFC.” The BDS has been pushing for various forms of boycott movement against Israel until it meets its obligations under international law.

KFC was also forced to shut its first branch in Algeria earlier this month, just two days after its opening, following protests over US support to Israel.

The boycott action has severely affected worldwide operations of American fast-food giants McDonald’s, KFC, Starbucks, etc., with the pro-Palestine campaign having the potential to spread further across the globe.

Boycotted US companies are either perceived by pro-Palestinians to have taken pro-Israeli stances in the genocidal war on Gaza, or have financial ties to the Israel regime and/or have made illegal investments in the occupied Palestinian lands.

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News Network
April 24,2024

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With the Karnataka transport department extending the deadline for the installation of High Security Registration Plate (HSRP) twice--- in November last year and February, it is no longer planning to extend the same. The department ordered for the installation of HSRP before May 31.

The transport department through a notification in August last year, had mandated the installation on all the vehicles that were registered in the state prior to April 1, 2019. According to transport officials, there are nearly two crore vehicles that are supposed to get HSRP for their vehicles.

“As of now, the state has registered only 34 lakh HSRP installations, despite extending the deadline twice. From nearly 18 lakh installations since February, the numbers have almost doubled. However, there are still a large number of vehicles that have to opt for HSRP,” said C Mallikarjuna, Additional Commissioner for Transport (Enforcement).

“We will wait till May 31 to check for the total number of vehicles that fall in line. We are expecting HSRP installations to touch 75 lakh, after which we will consider an extension as the numbers indicate that people are falling in line and if some more time is given everyone will get it done. However, if we do not reach that number before the deadline, we will request the government not to extend the deadline but urge for an enforcement,” he said.

He also stated that a fine of Rs 500 will be imposed for the first time and if vehicle owners do not fall in line, it will be Rs 1,000 later until they have installed HSRP. “We will wait till the Model Code of Conduct ends and take the government’s opinion. We are going to request the government for strict enforcement if the HSRP installations are not satisfactory,” he added.

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News Network
April 28,2024

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Students in Paris blocked access to a campus building at a French university on Friday, as pro-Palestine demonstrations reach Europe.

The students occupied the central campus building of the Paris Institute of Political Studies, known as Sciences Po, and dozens of others blocked its entrance, echoing protest action at American universities.

Students inspired by Gaza solidarity encampments at campuses in the United States blocked access to a campus building at the prestigious French university on Friday.

They blocked the entrance with trash cans, wooden platforms and other items.

The occupation of the Paris university campus came after police broke up a separate protest at the university’s amphitheater outside one of its Paris campuses.

Scores of student protesters gathered at the building’s windows, chanting slogans and holding placards reading “We are all Palestinians,” in defiance of administrators who students say called the police on their peers two days earlier.

Pro-Palestinian student protesters had occupied the amphitheater outside one of the university’s Paris campuses on Wednesday evening.

The US-style student protests, which began over the months-long Israeli regime’s genocidal war against Palestinians in the besieged Gaza Strip, kicked off in the United States and have now spread to European capitals as well as Australia.

In the German capital Berlin, several people were arrested as police violently cleared a camp of Gaza war protesters at the German parliament.

Pro-Palestinian activists are demanding a permanent ceasefire, an end to the Israeli atrocities, and an arms embargo of the Tel Aviv regime.

The Israeli regime launched the war on Gaza on October 7 last year. The genocidal war has killed more than 34,356 Palestinians, most of them women and children.

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