NEW DELHI: JP Morgan CEO Jamie Dimon suggested that the United States, in its efforts to make trade fair for the nation, do not need to ask “non-aligned nations, like India and Brazil” to align but “can bring them closer” extending a friendly hand with trade and investment “. This occurs while the 10% prices of Donald Trump on all American imports come into play.
“We already exchange with most nations on the planet – and, of course, we should always try to make it better and fairer for America. Deepening of high -level trade with key business partners is a good economy and a large geopolitics. Shareholders.
The introduction of a tariff of 26% on Indian imports, associated with increased rights over countries like China, increased global trade tensions and sparked a sharp drop in Asian stock markets on Monday.
Noting the enormity of global trade, Dimon said: “The United States has no trade agreements with some of its closest allies, many of which have signed trade agreements with China. We should more actively seek free trade agreements (and, of course, the European Union.
“World trade is enormous, amounting to around 20 billions of dollars per year, of which only $ 2.5 billions are with the United States. And world trade will take place with or without us. We must remember that other nations have choices, in the short term and long-term,” he added.
India has not so far taken the Chinese reprisal tariffs. Exports of goods from the country to the United States is expected to drop by $ 5.76 billion this year due to the increase in prices, according to the Global Trade Research Initiative (GTRI). Key sectors such as marine products, gold, electronics and electrical products will be the most affected. However, India’s competitiveness in certain product segments can help compensate for part of the decline.
