US trade deficit with India falls, PM Modi to raise issue with Trump

Despite increased protectionism through higher tariffs on imports and easier export norms, the Trump administration has not been able to rein in the US' ballooning global trade deficit

Days after the US cut off India’s duty-free access to the American market under its largest preferential trade scheme, the Generalized System of Preferences (GSP), official figures from Washington DC showed that its trade deficit with the country has fallen over the past two years, slipping to $21.3 billion in 2018. In 2017, the US’ trade deficit with India was $22.3 billion, down from $24.4 billion in the previous year. 

Prime Minister Narendra Modi is expected to point this out to US President Donald Trump in a letter on the matter soon, Business Standard has learnt. 

The latest figure, released by the