Biden

Trump vs Biden: Who Packed More Punch in US-India Trade?

Dive into the trade tussle between Trump and Biden! Which president boosted India-US trade more? Prepare to be surprised!

In the ever-evolving dynamic of international relations, one aspect that continually grabs headlines is trade, especially between major economies like the United States and India. Recent data from the Centre for Monitoring Indian Economy (CMIE) reveals that India's total trade with the US has skyrocketed by a staggering 92% over the past decade, reaching a whopping $118.3 billion in FY24, up from just $61.5 billion ten years ago. But the big question remains: which president, Trump or Biden, can take credit for this boost? Was it Trump's aggressive trade policies or Biden's steady hands that fueled this growth?

As we dissect the trade trajectory, it’s crucial to reflect on the strategies each administration employed. Trump’s tenure was marked by a confrontational trade stance, which initially sent shockwaves through the global economy but also set the stage for new trade agreements, particularly with India's growing market. Meanwhile, Biden focuses on rekindling multilateral ties and strengthening alliances, which may have provided a fertile ground for existing trade relationships to flourish further. Both administrations undeniably played vital roles in shaping the trade landscape, albeit with differing methodologies.

On another interesting front, India's former ambassador to Italy, K P Fabian, recently weighed in on the electoral prospects and foreign policy outlook for the next US President. He suggested that Trump's preference to see an end to the Ukraine conflict could also influence trade flows and foreign relations in the Indo-Pacific. If Biden secures another term, his foreign policy agenda is expected to prioritize ongoing issues like climate change, technology collaboration, and strategic partnerships, particularly with India, highlighting the importance of both countries in global frameworks.

As we look ahead, it will be interesting to see how the results of the upcoming US elections will influence the trajectory of India-US trade. Will nostalgia for Trump’s hard-hitting policies overcome Biden’s diplomatic charm? Or will Biden continue to steer the course of economic engagement in a manner that resonates more with India’s aspirations? One thing’s for sure: the world will be watching!

Fun Fact: Did you know that the trade relationship between India and the US is now stronger than ever, with India becoming one of the largest trading partners of the US? Also, ever since the India-US Civil Nuclear Agreement was signed in 2008, bilateral ties have expanded beyond trade into areas like defense and technology, enriching both nations economically and culturally!