World Perspectives

Best Trade Bargain

Indian Commerce and Industry Minister Piyush Goyal says that India would be “happy and willing” to negotiate a trade agreement with the U.S. American farmers should be pummeling the White House to pursue such a deal. India runs a large trade surplus with the U.S. and benefits from substantially lower tariffs than those it applies to U.S. products. The Biden Administration is negotiating a trade agreement with Kenya, which would bring far less benefits to the American economy than a deal with India. Even if such a negotiation fails, it would highlight the mercantilist structure of India’s trade policy. ...

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