India Waits Warily for a U.S. Trade Salvo
May 17, 2019 | 09:00 GMT
- The prospects of a U.S.-India trade war — which would be marked by U.S. tariffs on a wide range of Indian imports — will hinge on the outcome of a possible U.S. investigation into India's trade practices.
- India, which recognizes it's a lower priority in U.S. trade negotiations, will be more likely to negotiate a trade package once a new government is formed after its national elections conclude later this month.
- If India chooses to continue buying Iranian oil, it will buy a reduced amount under a rupee-based payment mechanism to avoid U.S. sanctions.