Modi Faces Blowback Over Trade Deal With Trump to Lower Tariffs

President Trump’s social media post ending the extraordinary 50 percent tariff on most Indian goods drew a public thank-you from Prime Minister Narendra Modi: “Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement.” The deal trimmed the main tariff to 18 percent, putting India in line with regional competitors, but it also included a pledge to buy $500 billion in American goods over five years, a commitment that has raised questions at home.

Initial optimism — India’s stock market jumped 3 percent and the rupee edged up — gave way to criticism from farmers, opposition politicians and some business leaders. Farmers plan a strike to protest the accord, opponents labeled the terms a “wholesale surrender” of national interests, and ministers have declined to answer basic questions about the new terms.

Discrepancies between a joint statement and a White House fact sheet deepened concerns.

India

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