Could the Upcoming Modi-Jinping Meet Mitigate US Tariffs?

Beijing, Aug 30 (NationPress) Following the recent decision by US President Trump to impose additional tariffs on India, the business sector perceives this move as an opportunity to lessen the impact of these tariffs before the bilateral meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping at the Shanghai Cooperation Organisation (SCO) Summit in Tianjin on August 31.

Prime Minister Modi is visiting China at the invitation of President Xi to participate in the SCO Summit after wrapping up a two-day trip to Japan.

This visit marks PM Modi's first trip to China in seven years and the first since the tensions at the Galwan Valley in June 2020 between the two nations' armed forces at the Line of Actual Control (LAC).

In anticipation of PM Modi’s trip, several prominent business leaders shared insights with IANS amidst the escalating concerns regarding the India-US tariffs.

Ajeet Khan, a restaurant owner, emphasized the significance of the geographical and historical ties between China and India, noting, “Most importantly, Prime Minister Modi’s attendance at the summit sends a strong signal - not just to India and China, but to the entire world - that both nations are prepared to collaborate for a brighter future.”

Khan further mentioned that this meeting provides a valuable chance for both countries to explore alignment and develop strategies to alleviate the effects of US tariffs on their economies.

Amit, a pharmaceutical executive, remarked, “The SCO summit is an excellent initiative for bringing Asian nations like Russia, India, and China closer together. In light of the ongoing global trade tensions, PM Modi’s visit will certainly enhance trade and fortify bilateral relations.”

Businessman Jayanta Nandy stated that this visit symbolically represents a commitment to increased cooperation and collaboration.

“We anticipate notable advancements in India-China relations, particularly in sectors such as digital technology, green energy, and overall friendship between our two nations,” he affirmed.

Weilin, a Chinese entrepreneur, acknowledged the economic significance of both countries, stating, “As a businessperson in China, most of my conversations revolve around deepening cooperation with India. PM Modi's presence in China is a fantastic start to revitalizing our bilateral relations and enhancing economic and political cooperation among ICCO countries, especially during this critical geopolitical transition.”

Hean, a former diplomat, expressed local anticipation for PM Modi’s visit, noting that it has been nearly seven years since he last visited China.

“Most Chinese citizens hope this visit will enhance Sino-India relations, particularly in light of the current complex global landscape. Strengthening ties between our two major nations will bring renewed hope for Asia and the world,” he added.

An Indian diaspora member highlighted the potential for improved trade and, more importantly, enhanced relations between the people of India and China.

Ankit Prasad, Editor at CGTN, China’s national news network, remarked that the positive aspect shown by the recent visit of the Chinese Foreign Minister to India indicates that mechanisms have been established to address border tensions.

“The Prime Minister's visit to China illustrates that progress is being made at the border, as it was evident that India was not willing to retreat,” he concluded.