"India-US Trade Deal Isn't Done Because..." — US Commerce Secretary Explains Reasons
In an interview with Chamath Palihapitiya, on the All-In podcast, Lutnick explains why the deal hasn't materialised yet, and the staircase structure on the rates they were negotiating with countries.
The long awaited India-US trade deal isn't finalised because Prime Minister Narendra Modi did not call US President Donald Trump, claims US Commerce Secretary Howard Lutnick. He added that "I set the deal up. But you had to have Modi call President Trump. India was uncomfortable with it. So Modi didn't call."
In an interview with Chamath Palihapitiya, on the All-In podcast, Lutnick explains why the deal hasn't materialised yet, and the staircase structure on the rates they were negotiating with the countries.
He goes on to say that, after PM Modi didn't call, the US went on with the staircase, to do deals with Indonesia, the Philippines, Vietnam, and Malaysia. He adds that India called back after three weeks, and hints at the rates are now getting difficult to negotiate.
Earlier in December, foreign affairs expert Fareed Zakaria said in an exclusive conversation with NDTV, that a trade deal between India and the United States is likely on the cards, but its closure depends on the agreement to be reached by the "two strong leaders" on either sides.
