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#1 21-05-2019 10:15:05

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USD: is India Donald Trump's next target in his trade war? (ING)

USD: is India Donald Trump's next target in his trade war? (ING)

Donald Trump's trade war is currently focused on China, but we already know that his eyes will quickly turn to Europe and Japan once the Chinese issue has run its course.

However, in a recently published analysis, ING Bank highlights the fact that India could also be hit by Trump's wrath:

Prakash Sakpal, an economist at ING, recalls that President Trump published an opinion piece at the beginning of March aimed at putting an end to the trade advantages granted to India under the Generalised System of Preferences (GSP), which allows about 2,000 products from developing countries to be exported to the United States duty-free. This special status was reviewed on the grounds that India, supposedly the largest beneficiary of the GSP, did not offer free access to its market in return.

India is also one of the countries with a large trade surplus with the United States, which has led to close scrutiny by the US Treasury for currency manipulation.

It will therefore be interesting (according to ING) to see the US Treasury's assessment in the next mid-year currency manipulation report, which is expected later this month.

"Anything worth having is worth going for - all the way." - J.R. Ewing



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