Washington, Sep 11: India wants a trade deal with US after US President Donald Trump threatened to stop granting subsidies to growing economies like India and China so that the United States, which he considers as a developing nation,to grow faster than any other nation.
He often accuses India of imposing 100 per cent tariffs on American products.
“Frankly, I’ll tell you, India called us the other day. They said they would like to start doing a trade deal, first time,” President Trump said without mentioning who called up whom.
“They wouldn’t talk about it with previous administrations. They were very happy with the way it was,”Appreciating his stance, Donald Trump told his supporters at a Joint Fundraising Committee Reception, in Sioux Falls in South Dakota.
Donald Trump said his trade representatives headed by Bob Lighthizer (the US Trade Representative) are very tough, smart and very good.
Trump has been calling an unfair trade deals with China, India and other developing nations saying they unfairly received subsidies from the US as “growing economies” and vowed to stop the practice.
“We have some of these countries that are considered growing economies, they are considered nations that are not mature yet so we are paying them subsidies,” Trump told supporters at a rally in Fargo, North Carolina. “The whole thing is crazy”.
“You know, like India, like China, like others, we say ‘oh they are growing’ so I say I want to put us in that category, too we are growing… they call themselves developing nations… we are a developing nation too.”
And under that category as developing nations “they get subsidies, we pay them money… but we are going to stop it. We have stopped it.”
Referring to the latest GDP numbers, he said, “Think of this. One point in GDP, now when I started, it was down into low ones. President Obama had the lowest recovery since the Great Depression, so lowest. The worst recovery. It was like this. It was just terrible. And I’m not even knocking it. It was terrible.”
“We have such incredible growth. What’s happened has been very much of a miracle, but they haven’t seen the miracle yet. The miracle is going to start because now we’re getting things ready,” Trump said.
“I’ve said, ‘You fixed a trade deal. When India has six, seven, eight per cent, when China used to have 11, 12 per cent, they’re still at six or seven, when they’re at seven per cent they’re feeling badly. And I’d say, ‘How come we have to be at one per cent?” Well, it’s the size. I said, ‘Really? Well, China is bigger than we are and India has 1.5 billion people. How come they’re at 10 per cent and 11 per cent?’ Well, they can’t answer it,” Donald Trump said.