Homepage / Asia / India execs raise concerns about potential trade war with US
Thai rescue mission diver mulls legal action after Elon Musk calls him 'pedo guy' Trump claims US-Russia relations have ‘never been worse’ shortly before Putin meeting China will be watching and learning as Trump meets Putin Amazon Prime Day threatened by strikes at European warehouses over working conditions While Trump meets Putin, China is reaching out to Europe Trump-Putin summit could provide a ‘significant breakthrough’ on Syria, strategist says How cryptocurrency start-ups have raised over $12 billion this year via a much-hyped funding route For Asia's soccer teams to succeed, work starts off the field European markets seen higher ahead of earnings; Trump-Putin meeting in focus How start-ups are positioning healthy food to make 'a lot of business sense' 'Never underestimate human stupidity,' says historian whose fans include Bill Gates and Barack Obama China says its second-quarter GDP growth was 6.7%, meeting expectations Asian stocks poised for slightly softer open as markets await China data Elon Musk courts new controversy after tweeting, then deleting, an attack on a British cave explorer How a former eBay employee is inspiring kids to become tomorrow's problem solvers Here's what the DOJ needs to happen to win its appeal against AT&T The 2018 Hyundai Tucson is a good bargain crossover but skip the high-end model Trump suggests US and UK could strike a 'tremendous' trade deal after Brexit PlayVS wants to bring electronic sports gaming into high schools The unintentional winners of Prime Day: Amazon’s competitors Elon Musk insists he's neither Democrat nor Republican, as political contributions come under fire Amazon could make a big impact in health by helping people eat better Even without a GPS, here's why mobile phones are 'the best spying device you can imagine' How the Bee Gees plan to stay alive in the era of digital music Verizon, AT&T, Sprint and T-Mobile say they have unlimited data plans, but here's the fine print Elon Musk has a new interest group that could be added to his list of enemies: Cabbies Uber's troubled culture persists, as sensitivity 'blind spots' raise new questions Top VC Deals: Uber and Alphabet backed Lime, Larry Page invests in personal aircraft company Tesla rolled out a new attendance policy for hourly workers this month — read it here Elon Musk: Whatever pain Tesla factory workers felt, 'I wanted mine to be worse' Facebook, Google and Twitter will testify next week at a House Judiciary hearing on content moderation In ETFs, the bigger the stock, the more money goes into it and that could be costing regular investors Ex-Labor secretary: Cash handouts 'may seem like a pipe dream' but could be 'inevitable' Cisco, networking stocks drop on a report Amazon Web Services is developing its own network devices Microsoft's president says the government needs to step up regulation of face recognition technology Facebook admits it's not adding enough minority engineers, says the problem may lie with its roots The 2018 Cadillac ATS-V is one of the best sports sedans you can buy There’s one media stock that’s outperforming Netflix Trump's SCOTUS nominee thinks ISPs have First Amendment rights, which could hurt privacy laws The bond market is sounding an alarm on the economy as 'yield curve' spread hits narrowest in 11 years on Friday India execs raise concerns about potential trade war with US Watch out, retailers. This is just how big Amazon is becoming Jefferies raises Facebook price target, sees revenue topping expectations An Amazon Prime Day for health care? Here's what experts say it could look like Can money buy success at the World Cup? Children and PTSD: Health risks linger long after acute psychological trauma ends Netflix faces major risk heading into earnings, money manager says Morgan Stanley raises its price target on red hot WWE stock by nearly 70% to Street-high Trump walks back Brexit threat: 'Whatever you do is OK with us' 4,500 tech workers, 1 mission: get Democrats elected Watch: Trump holds news conference with UK Prime Minister Theresa May after he attacked Brexit plan Goldman Sachs says cybersecurity stocks could get a boost from fears of meddling in the midterm elections AT&T's Randall Stephenson says chances of a successful DOJ appeal are 'remote': 'This changes nothing' PNC shares gain after higher commercial lending leads to better-than-expected earnings report Amazon just hit a new high, and one trader sees more to come Stocks making the biggest moves premarket: JPM, DIS, BLK, T, JNJ, MCD & more Deutsche Bank warns Netflix may miss second-quarter subscriber expectations Wells Fargo shares fall after second-quarter revenue misses estimates Trump’s dream to meet the queen makes this trip a victory, former White House aide says In this earnings season, a volatile stew of expectations London mayor says the UK is not afraid to call out Trump: ‘We think you’re wrong’ ‘Trump Baby’ balloon takes flight in central London amid protests Even May's UK opponents are backing her against Trump Theresa May had a plan in place for Brexit. Then Donald Trump landed Jack Dorsey loses 200,000 followers on Twitter after fake user purge Trump to have tea with the queen at Windsor Castle The US is trying to nail down terms with Pyongyang, while 'South Koreans aren't wasting time' Trump is likely to ask Putin for help with his North Korea problem European markets seen higher amid global trade war fears; Trump visits the UK History shows the US-UK special relationship is increasingly one-sided New tariffs threatened by the US would be more harmful to China than the first batch, says bank CEO Chinese imports fall short of expectations, while exports top estimates China says both its imports and exports with the US rose in the first half of the year Asian stocks extend gains amid relief over lack of trade escalation, tracking US rally Nvidia and Netflix produced top shareholder returns over past five years, BCG study shows Apple announces $300 million clean energy fund in China Broadcom has a new strategy after failing to buy Qualcomm: Roll up enterprise software companies Justice Department appeals Time Warner-AT&T merger approval Women in private Facebook group for cancer gene carriers found marketers could get their names How to avoid overshopping on the longest Amazon Prime Day yet Microsoft challenges Slack with a free tier for Teams Amazon, Xealth working on pilot program to deliver products to patients after hospital discharge Trump's tariffs are unlikely to cause a recession because they are leaving the most important part of the economy alone There are a lot of misconceptions about browsing the web in 'incognito' mode, researchers say How an obscure British rule — the 'chain principle' is changing Comcast's strategy for Fox and Sky Netflix just beat out HBO in Emmy nods, snapping HBO's 18-year streak John McCain blasts Trump’s NATO performance and warns that 'Putin is America’s enemy' Two Dow stocks to buy and one to fade in a volatile market Uber will let riders pay with a Venmo balance Cramer: Pizza execs say Papa John’s is ‘falling apart’ when compared with Domino’s This 23-year-old founded a company with self-driving car tech that's giving Tesla some competition NBA Commissioner Silver ‘rooting’ for Disney in the battle against Comcast for Fox L Brands tumbles after weak sales at 'broken' brand Victoria's Secret Law firms climb aboard the AI wagon A welcome upgrade to apprenticeships A Chinese music-video app is making WeChat sweat Development-impact bonds are costly, cumbersome—and good Big corporates’ quest to be hip is helping WeWork What the UK’s top politicians have said about Trump — and it's not always nice Kim Kardashian West and Warren Buffett agree that this is the best investment you can make

Asia

India execs raise concerns about potential trade war with US

Add India to the list of countries that are growing frustrated with the U.S. administration’s trade policy.

On Thursday, a group of top executives and government officials from India met in Washington with U.S. trade representatives and others at the Annual Leadership Summit of the U.S.-India Strategic and Partnership Forum (USISPF).

Many expressed their concern about an ongoing trade dispute between the two countries.

India did not receive an exemption from U.S. tariffs on aluminum and steel imports, prompting Prime Minister Narendra Modi’s government to respond with its own set of tariffs on roughly $240 million of U.S. goods, set to go into effect in August.

Ajay Singh, the chairman and managing director of India’s discount airline SpiceJet, spoke about trade at the summit during a session moderated by CNBC, questioning the direction of the relationship between the two countries.

“We need to talk about this a lot more,” he said. “Where do we see ourselves several years from now? Is this really a strategic relationship? Is it that we will trust each other enough? Will India trust the U.S. to be there when India needs them? And will the U.S. trust India with technology that’s obviously been developed with a great deal of effort?”

Senator Mark Warner, a Virginia Democrat and co-chair of the Senate India Caucus, highlighted the importance of the U.S.-India relationship but admitted there is room for progress.

“I think there may be a good rapport between Modi and Trump but that hasn’t translated into enough solid action,” he said at the event.

Not only is India an important growth market for U.S. corporations, but it serves as a strategic political ally for Washington in the region, often seen as an effective way to counterbalance China. Indian executives including Singh said they worry that if the trade dispute escalates, India will have to seek support from other nations.

“On the defense side, a lot of Indian equipment is from Russia…and that country has had a history of standing by India in its times of need,” Singh said. “We need a similar assurance from the United States. We also need to find a way in which we marry President Trump’s ‘America First’ with Prime Minister Modi’s ‘Make in India.'”

“Make in India” is a reference to Modi’s campaign to encourage companies to make products and invest in India.

Meantime, Indian officials said they remain hopeful that the world’s two largest democracies will be able to come to an agreement on trade, though New Delhi is ready to retaliate if needed.

“I hope that this is a resolution that can happen through negotiation rather than retaliation,” former Indian government official Dr. Arvind Panagariya said. “But at the end of the day, if one country retaliates, as a defensive measure, if India has to retaliate, unfortunate as it may be, I think it will have to do it. Because else, your markets become closed to me, my market remains open to you.”

Despite fresh concerns around trade, corporate leaders from several U.S. firms at the summit, including Philip Morris, Caterpillar, Twenty-First Century Fox and General Electric, said they were optimistic about the growing number of economic opportunities between the two nations. A number of speakers cited Walmart’s decision to buy a 77 percent stake in Indian e-commerce company Flipkart for roughly $16 billion. The mega-deal, some executives said, has already inspired more American firms to take a serious look at India for opportunities.

Mukesh Aghi, the president and chief executive of the USISPF, said more opportunities will emerge as foreign investors like Japan’s SoftBank continue to invest in India’s thriving start-up landscape.

“The business opportunities for both Indian companies, American companies, large companies and small companies is dramatic,” said John Chambers, the chairman emeritus of Cisco Systems and chairman of the USISPF, to CNBC. “India will be the fastest growing economy for the next decade. When I said that three years ago people said I’m not so sure. You can see that’s going to happen in the world. I think from a business perspective, the opportunity is very good.”

Source: cnbc china
India execs raise concerns about potential trade war with US

Comments are closed.