India’s trade relationship with the US was plunged into uncertainty as New Delhi lamented an “unfortunate” decision by US president Donald Trump to strip the country of preferential access to the US market.
The Indian commerce ministry said at the weekend that it wanted to “find a mutually acceptable way forward” and had offered concessions to US demands after the Trump administration said India would lose its favoured trade status.
The US move on Friday threatens to become a new source of global economic tension just as Washington steps up its trade battle with Beijing and warns that it will hit Mexico with tariffs if it does not do more to stop illegal migration.
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