🇺🇸 Donald Trump
From Trump to Biden, adoption of industrial policy reflects deeper structural shifts in US, says Jaishankar
What happened
Jaishankar noted that the adoption of state-backed industrial policy, initiated under President Trump, continued under President Biden. He also mentioned the persistence of key economic and trade policies, including the concept of industrial policy, which historically was considered unconventional in the US. The US Trade Representative Jamieson Greer stated that talks on the bilateral trade agreement between India and the US are nearing their final phase, but a final announcement is not imminent
Why it matters
The shift in US foreign policy is significant as it may impact global trade and diplomatic relationships. Jaishankar's comments suggest that global powers should adapt to both short-term political nuances and fundamental systemic trends in Washington. The negotiations on the India-US trade agreement are ongoing.
Key facts
- State-backed industrial policy was adopted under both Trump and Biden.
- Key economic and trade policies persisted under both administrations.
- Talks on the India-US trade agreement are in the final phase.
- Jaishankar emphasized the need to distinguish between short-term and long-term trends in US policy.
- The US Trade Representative stated that a final announcement on the trade agreement is not imminent.
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Publisher evidence used
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