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India sent $755 Million more in exports to US due to trade war

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PM Modi and Donald Trump

United Nations, Nov 6 India sent $755 million more in exports to the US during the first half of this year as a result of the trade war waged by President Donald Trump against China, according to the trade arm of the UN.

Trade diversion effects for India were smaller compared some other countries, “but still substantial”, a research paper from the UN Conference on Trade and Development (UNCTAD) said.

The paper on trade and trade diversion effects of US tariffs on China that was released in Geneva on Tuesday said, “US tariffs on China are economically hurting both countries. The tariffs have resulted in a strong decline in US imports from China. US losses are largely related to higher prices for consumers.”

But it is also helping other countries like India that are not directly involved in the trade war as the US increased imports from them by about $21 billion in the first six months of the year

Taiwan and Mexico were the biggest beneficiaries.

The paper said that the office machinery and communication equipment sectors were hit the hardest for China, with a total reduction of US imports worth about $15 billion for the first half of 2019.

India was able to capture only $18 million in the office machinery component of the sector, but none in the communication equipment part during this period, according to UNCTAD.

India made the most gains in the chemical sector, about $243 million; electrical machinery, $83 million, and other machinery, $68 million, it said.

Vietnam, with its emphasis on export-oriented growth, presents a contrast to India showing that it was able to benefit much more from the trade diversification.

Its exports rose by $2.6 billion, with electrical machinery accounting tor $400 million and communication equipment $1.1 billion, according to UNCTAD.

Washingtons’s tariffs caused a 25 per cent export loss for China “inflicting a $35 billion blow to Chinese exports in the US market for tariffed goods in the first half of 2019,” the paper said.

But it added that Chinese firms being able to retain 75 per cent of their exports despite the higher tariffs showed their competitiveness.

Last year, US and China initially raised tariffs on about $50 billion worth of each other’s goods and Washington later hit Beijing with an additional 10 per cent tariff on $200 billion worth of Chinese imports.

In June, the US increased the tariffs to 25 per cent.

China has also increased tariffs on US products, mainly hitting the agriculture sector from which Trump draws a significant part of his support.

India, however, has also been a victim of the trade wars of Trump, who has called India the “king of tariffs.”

In June, the US removed the General Scheme of Preferences benefits for India. The Trump administration has made several trade and related demands of India, such as removing restrictions on e-commerce, storage of consumer data, and imports of milk products from cattle given cannibalised feed, and Trump’s pet cause, reducing import duties on Harley Davidson motorcycles.

The two countries are negotiating a trade deal.

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Trump will be seventh US President to visit India

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Donald Trump

New York, Feb 24 : When Donald Trump is greeted with a crescendo of “Namastes” when he lands in Ahmedabad he will be the seventh US President to visit India while in office.

He visited India in 2014 as a real estate businessman, but this will be a presidential visit.

President Dwight Eisenhower, a Republican, who came to India in 1959 at the height of the Cold War was the first to visit India as it was coming into its own as an independent nation and the laboratory of democracy.

The visits reflect in some ways the status of India in the US world view.

Eisenhower’s visit was to explore India as young democracy with hopes of closer cooperation, perhaps moving away from Prime Minister Jawaharlal Nehru’s nonalignment.

While there have been gaps of about a decade between some of the visits, since Bill Clinton in 2000 every president has come to India in a sign of its rising importance in world efforts.

There was a ten-year gap between Eisenhower’s visit and the next.

Democrats John Kennedy and Lyndon Johnson had skipped India firmly ensconced in the nonaligned movement. (Johnson, however, had visited Pakistan, then a US ally.)

President Richard Nixon, another, Republican, visited India in 1969 and his successor Gerald Ford did not.

Nine years later, Democrat Jimmy Carter made the India trip in 1978 while Moraji Desai of the Janata Party was prime minister.

His mother, Lillian Carter, had been a Peace Corps volunteer in Mumbai.

Ronald Reagan and George Bush (the senior) skipped India.

Democrat Bill Clinton came to India in 2000, ending the 12-year gap in presidential visits.

Since then, every president has come to India.

The highlight of Republican George W Bush’s visit in 2006 was the signing of the landmark US-India Civil Nuclear Agreement – which was the only time a substantive agreement between the two countries was signed during a presidential visit.

The agreement, which he signed with former Prime Minister Manmohan Singh, virtually recognises India as a nuclear weapons power exempting it from some of the US nuclear nonproliferation restrictions in order for both the countries to cooperate in the nuclear field with access to some civilian nuclear technology and materials.

It effectively neutralised some of the stringent sanctions imposed on India after its 1974 nuclear test.

Barack Obama, a Democrat, is the only president to have visited India twice.

He first visited India in 2010 when Singh was the Prime Minister.

Modi was the Prime Minister during his second visit in 2015 when he was the chief guest at India’s Republic Day celebrations.

(Arul Louis can be contacted at [email protected])

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Disaster

5.7 magnitude earthquake hits Iran

According to local reports, communication means within the quake-hit region as well as the power network have been disrupted.

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Iran Turkey Earthquake

Tehran, Feb 24 : Another 5.7 magnitude earthquake hit Qotur region in West Azerbaijan Province in the northwest of Iran, according to Iran’s Seismological Centre.

The earthquake took place at 7:30 p.m. (local time) on Sunday, with the epicentre at the depth of 12 km, 38.505 degrees north latitude and 44.388 degrees east longitude.

Earlier in the day, another 5.7 magnitude earthquake hit the same region, injuring nearly 100 people and damaging dozens of villages, Xinhua news agency reported.

According to local reports, communication means within the quake-hit region as well as the power network have been disrupted.

The governor of the West Azerbaijan province told IRIB TV that the access to the region is very difficult, as the quake has took place in the mountain area.

He said that rescue operators have been sent to the area.

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India

COVID-19: Airports to screen passengers from 4 more countrie

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New Delhi, Passengers arriving from Nepal, Indonesia, Malaysia and Vietnam will also be screened for novel coronavirus infection at Indian airports, the Directorate General of Civil Aviation (DGCA) said on Sunday.

So far, the in-bound passengers from China, Hong Kong, Japan, South Korea, Thailand and Singapore have been screened to prevent the spread of coronavirus.

The DGCA circular said that the universal screening of passengers “shall be ensured immdiately once they step out of the specific locations at all the airports and getting the self-declation form filled by the passengers as per the instructions of the Ministry of Health & Family Welfare”.

All airlines shall make in-flight announcement in flights coming from these countries and ensure strict compliance, said the circular sent to all the international airport operators in India and the scheduled airlines operating from the four countries.

Cases of the deadly coronavirus have been reported in several countries including India.

The overall death toll in mainland China due to the deadly coronavirus increased to 2,442 on Sunday, while the number of confirmed cases reached 76,936, according to health authorities.

The National Health Commission said that it received reports of 648 new confirmed casesand 97 deaths on Saturday from 31 provincial-level regions and the Xinjiang Production and Construction Corps, reports Xinhua news agency.

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