Politics and selection of political parties & candidates always have had a major impact on India-US relationships on many fronts. These decisions affect economies of both countries, job prospects, and many such important aspects. Recently elected Donald Trump and his dynamic and ever-changing decisions kept the world on their toes. So before further analysis let dig into the life of the 45th president of USA.
So before further analysis let dig into the life of the 45th president of USA.
U.S.resident, real estate mogul and former reality TV star Donald John Trump was born in 1946, in Queens, New York. In 1971, he became involved in large, profitable building projects in Manhattan. In 1980, he opened the Grand Hyatt, which made him the city’s best-known developer. In 2004, Trump began starring in the hit NBC reality series The Apprentice, which also spawned the offshoot The Celebrity Apprentice. Trump turned his attention to politics, and in 2015 he announced his candidacy for president of the United States on the Republican ticket. After winning a majority of the primaries and caucuses, Trump became the official Republican candidate for president on July 19, 2016. That November, Trump was elected the 45th President of the United States, after defeating Democratic candidate Hillary Clinton.
Well! The US being an economy on which major decisions of world trade and market depends, even a slight change in the structure can cause huge difference and that too when decisions of the president were on the role as well as dynamic.
Let’s look out at some of the effects on the world.
1)Pull-out from Trans-Pacific Partnership (TPP): Long promised throughout his election campaign, Trump signed the executive order to pull out of the TPP, days after his inauguration on 20 January.
2)Climate change: For now, the US seems to be adhering to the pact, though Trump’s “Energy Independence” executive order eliminates many Barack Obama-era restrictions on fossil fuel production. But it is unclear how the US will now achieve its carbon reduction goals.
3)Immigration: Trump has twice been challenged by the US courts on imposing a temporary travel ban on visitors from Iran, Somalia, Sudan, Yemen, Syria, and Libya. Initially, Trump’s first executive order also applied to those holding green cards but was struck down.
4)Syria: After advocating a hands-off approach towards the Syrian civil war, Trump authorized a Tomahawk missile attack targeting an airfield after a suspected chemical attack by the Syrian government
5)Taxes: In a bid to keep American businesses in America, Trump has proposed slashing corporate tax rates to 15% from the current 35%, and 39.6% for small businesses. Overseas corporate profits returning to the country will also be taxed at 15%. The measure is expected to be welcomed at home by small businesses.
6)Rolling back Obamacare: The Affordable Care Act pushed through by Obama, a campaign promise of Trump, seemed easier said than done when a section of Republicans themselves opposed the repeal. It was a setback for Trump which put a question mark on his ability to enact other major promises like tax reform and infrastructure investment.
POSITIVES OF DONALD TRUMP’S PRESIDENCY ON INDIA
1)Fight against terrorism: Trump always had a tough stance on Pakistan’s involvement in propagating terrorism. India could benefit in its collective fight against terrorism with the support of newly elected US president and America’s support. This will also strengthen Indo-US defense and strategic relations.
2)Chances of a Strong economy: Better defense relationship will give a chance to India for a positive boost in Indian economy with better strategic decisions and collaborative efforts from the US.
3)Better chances for entrepreneurs and students: Although Donald Trump wants to make stronger immigration rules; he at the same time, always welcomed the idea of giving better chances and more opportunities to Indian entrepreneurs and students in America. This will positively impact both the economies especially Indian economy.
4)Trade relations: Trump, throughout his entire campaign, was critical of China and its policies. India might gain upper hand in its trade relations if Trump imposes heavy tariffs in case of China not agreeing to rewrite trade agreements. His intended policies towards China are likely to benefit India. Trump openly commented on China as a threat and is apparently willing to start a trade war to prove his viewpoints. Trump will definitely need India, in case he decides to fight China’s trade policies, to project power in South Asia.
NEGATIVE IMPACT OF DONALD TRUMP’S PRESIDENCY ON INDIA
1)Donald Trump’s promise of bringing back jobs to the US from India might result in stricter immigration rules for Indians. This will make entry to the US for work much more difficult.
2)Trump’s political novices might result in companies like Microsoft, Gm and ford go back to the US due to Trump’s promise of reducing corporate tax substantially and companies would want to benefit from this.
3)Trump’s opinion on H1B visa program as unfair might negatively affect Indian IT companies and their stocks including the major ones such as Infosys and TCS. This will impact Indian IT sector in a big way.
4)Trumps impractical plans of negotiating all foreign trade deals in order to promote America might affect Indian trade treaties as well.
Having said this, Donald Trump definitely deserves a fair and nonjudgmental chance as the American president. He surely doesn’t have the political experience but he is a pretty successful businessman. His sharp business acumen has won him incredible wealth and it would be unfair to judge him based just on his bitterly fought campaign strategies. It will be interesting to see the developments in Indian-US relationships in the coming future under Donald Trump’s presidency. Hence what would be the possible results of today’s decision is still under the curtains of time. What we can do is accept the present giving him a fair chance and hope for the best!
Reference
http://www.livemint.com/Politics/aEsQ0T37fdvc6Y6aer6D3J/Donald-Trumps-100-days-Decisions-that-affected-India-the.html?facet=amp&utm_source=googleamp&utm_medium=referral&utm_campaign=googleamp
http://m.economictimes.com/news/international/heres-how-a-win-for-donald-trump-will-impact-india/amp_articleshow/55325954.cm
http://wap.business-standard.com/article-amp/companies/indian-it-sector-braces-for-impact-of-donald-trump-s-immigration-order-117012900803_1.html
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