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75 US Billion export and 45 US billion Import thats peanuts for USA..
If that were the case then trumpwa would not bother waging a tariff war in the first place.
Either way, exports worth US$ 70-80 billion (a number that is projected to grow manufold in the coming years) is pretty significant from our pov.
And most of these are textiles and petrochemicals one cant put much tariffs on these items GSP was taken away from India in first Trump term.
Except that they can, WTO is dysfunctional - he can do whatever the heck he wants. Sure, there will be reraliatory tariffs too but that still won't recover our 'lost export earnings'.
and service sector export will flourish .. It seems there are around 200 US fed govt institutions which are not critical and service no confidential data most likely these will be outsourced by private cos to India, Philippines.. its a good thing Trump can have few ego wins on goods sector and India can have massive pie in IT service sector
Not too sure about this hopium take either. If trumpwa gets pissed off (he gets pissed off all the time anyway) might as well go all the way.
An FTA (possibly limited in scope) can be a solution to this mess. They tried negotiating one last time around but eventually the Trump admin lost interest and got voted out subsequently. Only time will tell whether a patch-up is possible this time around.