When President Donald Trump announced a budding tariff contract with India, economist Steve Moore was heavily on issues related to Fox Business on Thursday.
At a press conference with Indian Prime Minister Narendra Modi, Trump said India needs to deal with the excessive tariffs it places on US imports and plans to tackle these issues in future negotiations. Ta. He also said that exports of US energy and liquefied natural gas will help reduce the trade deficit.
“India is America’s biggest trading partner, and that applies to all countries on the planet. We have this large consumer market, so everyone needs to trade with the US. “Moore I said. “I’m a free trade guy. You know, Daggan, but I’m very interested in what Trump is talking about here. He basically says to these other countries. , or we’re going to raise ours.” (Related: “We shouldn’t be wary”: Britthume explains why price increases are not a major concern at this point.)
Moore said there are significant risks to this approach.
“I think this strategy is a dangerous strategy, but I think it works. And if it works, we can offer products to these countries around the world, whether it believes it or not. “We can export, so we can trade more freely around the world,” Moore said. “And the last point. I know you all know this, but I want to make sure that all viewers understand that the US has the lowest tariffs in the world. I think so. So we are here and the rest of the world is here.”
Trump I said India intends to buy additional US oil and gas as part of its economic exchange. This includes potential trade in US combat vehicles and jet engines, as well as American agricultural and nuclear investments. Trump spoke about dealing with trade imbalances and strengthening economic cooperation between the two countries.
“We agreed to work together to build one of the biggest trade routes in all of history. We ran from India to Israel, Italy and the US, and partners, roads, railways, submarine cables. It’s a big development,” Trump said.
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