import products: Prime Minister Narendra Modi's new government must prepare for a trade conflict with the US as Trump tries to reduce that deficit, according to Global Times China. As the Indian economy slows down, Modi is looking to the manufacturing sector to drive economic growth and create jobs. The US merchandise trade deficit with India was 21.3 billion in 2018. However, it is unrealistic to expect the US to digest India's excess industrial capacity by shoring up its exports. Modi's new government must find new export avenues for made-in-India products if it pursues an export-led growth strategy. With trade protectionism as a guiding principle, the US is unlikely to import products from Asia as generously as it used to.
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Tagged under import products, trade protectionism topics.