Has India Surpassed the US in Trade Amidst Tariff Challenges?
Synopsis
Key Takeaways
Washington, Jan 28 (NationPress) India has outpaced the United States in trade agreements this year, stirring concerns in Washington as the Trump administration's tariff-centric approach struggles to yield results, according to Henrietta Treyz, co-founder of Veda Partners.
“In Washington, there is a growing unease over the fact that India has secured 100 percent more trade deals than the Trump administration this year,” Treyz stated during her interview with CNBC, highlighting the increasing frustration among US lawmakers regarding the administration's failure to convert assertive trade rhetoric into tangible agreements.
Treyz recalled the administration's commitment earlier this summer to expedite trade negotiations. “During the 90 deals in 90 days initiative, Treasury Secretary Scott Bessent and USTR Jamieson Greer promised those agreements,” she noted.
However, she emphasized that the outcomes have been far from what was anticipated. “In 10 months, we've only secured two deals, with Cambodia and Malaysia,” Treyz remarked, adding that “there has been no progress on the South Korea deal.”
She pointed out the irony for US lawmakers, as prior to the current administration, 96 percent of trade with South Korea was governed by a free trade agreement, resulting in zero percent tariffs.
In this context, Treyz stated that the administration's reliance on tariffs as leverage has not led to significant advancements with key allies. “The tactics Trump has used against the EU, Japan, and South Korea have not been effective,” she said.
Moreover, mounting domestic political pressures are evident as public sentiment increasingly opposes higher tariffs. “Lawmakers are worried because 50 percent of Americans want the Supreme Court to eliminate these tariffs,” Treyz said. “This resistance complicates the administration's economic messaging.”
Consequently, she argued, the White House is under pressure to address the political ramifications. “The White House must tackle these issues,” she asserted, as President Trump aims to reassure voters about the economy.
Treyz concluded that trade policy remains a burden, stating, “These trade agreements and tariffs are impacting American sentiment and adversely affecting the president's approval ratings as well as those of the Republican Party nationwide.”
Furthermore, she suggested that the broader political consequences of stalled trade negotiations are becoming increasingly difficult to overlook, even as the administration continues to promote a “sell America” strategy for economic engagement.