The United States President, Donald Trump said on Wednesday that the United States is working on a “big” trade deal with India, highlighting that he’s not sure whether its going to be ready before the upcoming November elections.
“We’re doing a very big trade deal with India. We’ll have it. I don’t know if it’ll be done before the election, but we’ll have a very big deal with India,” said Trump according to a transcript released by the white house, “We are not treated very well by India but I happen to like Prime Minister Modi a lot and he told me seven million people between the airport and the event. So it’s going to be very exciting,” he added.
Trump’s government has been waging a trade war against its main trade partners, among them China. Trump aims to close the trade gap between them and the United States since according to his perspective it favors the other side.
Markets were previously expecting Trump to sign the deal with India during its next visit, which is taking place next week from February 24 in Ahmedabad, where Trump will be meeting his Indian counterpart Narendra Modi, and is expected to continue in Delhi on February 25.
By 9:45 GMT the US dollar went down by 0.16 percent against the Indian Rupee, hitting the 71.458 level.
Meanwhile, the United Kingdom’s annualized CPI increased to 1.8 percent in January from December’s 1.3 percent, beating the analysts’ expectations who expected a 1.6 percent increase.
According to the data released by the Office for National Statistics, excluding food and energy prices the inflation levels climbed 1.6 percent compared to the previous month figure, which was at 1.4 percent.
“The largest upward contributions to the change in the CPIH 12-month inflation rate between December 2019 and January 2020 came from gas and electricity prices; fuels and lubricants; clothing; and airfares,” stated the ONS on its report.
By 9:53 GMT the Pound Sterling was up by 0.07 percent against the US dollar, at 1.3007.