The current US President Donald Trump said that the United States has signed a historic trade deal with China, but did not elaborate on its details. On Thursday, June 26 he announced via a press meet that his country had signed a trade deal with China and also hinted that a “very big” deal might follow soon with India on similar grounds.
“We just signed (trade deal) with China. We’re not going to make deals with everybody… But we’re having some great deals. We have one coming up, maybe with India, a very big one,” Donald Trump said while speaking at a White House event aimed at promoting a government spending bill.
As expected, Trump was quite elevated and ecstatic, given that a landmark deal had been accomplished, with an intent to boost the trade between two powerful and highly developed countries. In his speech, he was also quite hopeful of firming up an agreement with the Indian government too, as PM Narendra Modi and Trump, both have been rather cordial acquaintances and friendly counterparts for each other at the international forum.
His comment on the present conditions looking rather bright and optimistic with all the countries US has thus far interacted with, especially since he came to power, has indicated that he is one leader who wants win over maximum countries, though the official bilateral agreements on various agendas will not be signed with every country, but rather only with carefully selected and chosen ones.
With the countries that won’t have an official agreement with the United States in matters of trade import-export, Trump plans to simply levy heavy taxes at 25, 35 and 45 percent as per the commodities. The US President, however, did not elaborate on the details of the deal signed with China and chose to refrain from sharing the details. The breakthrough deal will involve Beijing supplying the United States with magnets and rare earth exports at a rapid pace to expedite the shipments.
Earlier this month, while speaking at the US-India Strategic Partnership Forum, US Secretary of Commerce Howard Lutnick had stated that a plausible trade deal between India and the United States could be finalized soon, with both countries finding common grounds that suits their mutual interests.
When asked if he was hopeful about the outcome, Lutnick said he was “very optimistic,” and added, “It could be sort of the way I come across,” he had said. Meanwhile, a while ago, the Union Commerce and Industry Minister Piyush Goyal also opined that India and the US were in the process of negotiating a fair and equitable trade agreement that will benefit both economies.
Helene Elliott is the senior reporter for News Raise. She covers Science news. She also has a keen interest in photojournalism. Helene holds a nomination for the prestigious Red Smith Award. She is married to author Dennis D’Agostino, a former publicist with the New York Mets.
