00:00Donald Trump is returning as U.S. President. He boasts a good relationship with India's
00:10Prime Minister, Narendra Modi. Many believe Trump's return will benefit India, including
00:15more immigration and better trade ties.
00:30It's worth noting that the U.S. had serious economic disagreements with both China and
00:35India during Trump's first term. However, U.S.-based entrepreneurs of Indian origin
00:40believe that, this time, things would go different for New Delhi.
01:00During Trump's previous term, his tariffs targeted metal imports. In 2018, he imposed
01:05a 25% tariff on steel and 10% on aluminum from India. As a result, steel exports from
01:12India to the U.S. were cut in half. The Trump administration also filed a lawsuit at the
01:17World Trade Organization over subsidies on goods exported from India. As a result, New
01:23Delhi had to change the way it provided extra funding to its traders.
01:28In 2019, the Trump administration also removed India from the U.S.
01:32generalized system of preferences, causing India to pay more when exporting goods.
01:37So, will Trump change his approach this time? Experts say no.
01:59At the same time, Trump's stance on imports could prompt a significant rise in inflation
02:06in the United States. Most economists predict Trump's tariff plan will harm the economy
02:25and increase inflation. However, many American businessmen of Indian origin
02:30disagree. They believe the U.S. economy will benefit in the long run.
02:55India currently receives about $12 billion annually in remittances from the Indians
03:09living in the U.S. Some worry that Trump's policies could also threaten this source of money.
03:26The anti-immigration sentiment that has grown in this country in recent years,
03:37partly as a result of the rhetoric that Trump has encouraged,
03:46that is going to have some impact in discouraging, for example, from people coming in.
03:56The H-1B visa, which is aimed at attracting highly skilled immigrants to the U.S.,
04:00has long been mired in controversy. Anti-immigration voices say this visa is used
04:05to give away well-paid jobs to non-U.S. nationals. Still, Indian students hope Trump will remove
04:12some of the red tape upon returning to office, making both studying and securing a job easier.
04:25Trump's policies pose challenges for many countries,
04:54including India. Major economies are already preparing for a bumpy ride ahead. For example,
04:59Trump proposes a 60% tariff on Chinese products.
05:02And the U.S. might also try to reorganize global production chains.
05:24That's really a pie in the sky. That's not going to happen.
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