India examining US trade memo; directive on bilateral trade deal positive: Sources
Trump's memorandum — America First Trade Policy — to assess its impact on the bilateral trade with the US, which is its largest trading partner, sources said on Wednesday. They also said that the White House directive to the United States Trade Representative (USTR) to identify countries with which the US can negotiate agreements on a bilateral or sector-specific basis is a positive development for countries like India.
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«We are studying and examining the memo. We have to evaluate things before framing any strategy...As of now from a plain reading of that, I do not see something we need to be worried about. Everything that we examine does not translate into action,» one of the sources added.
The government is also awaiting confirmation of appointment of key trade officials in the US.
«Confirmations will take a bit of time. Once confirmations happen there will be discussion. India and the US are good trading partners,» the source said.
According to the memorandum, the USTR would identify countries with which the US can negotiate agreements on a bilateral or sector-specific basis to obtain export market access for America and shall make recommendations regarding such potential agreements.
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