A phase one deal later this month chinese advice from nearly you ha and u. S. Trade representative robert like hisor and treasury secretary Steven Menuchin reach consensus on principles according to reuters the Commerce Ministry of china said the 2 sides conducted serious and constructive discussions on properly addressing their core concerns while the u. S. Trade representative said the 2 sides made progress in a variety of areas and are in the process of resolving outstanding issue this comes as President Donald Trump was expected to meet with his chinese counterpart xi jinping on the sidelines of the Asia Pacific Economic cooperation summit in santiago chile to sign a phase one trade deal touted last month though that summit was canceled trump said both sides are still looking for a new location somewhere in the United States. Rob read this 1st i want to get this right going to be very. Very well to get the feel. Now that weve got the deal that we will go it will be something like.
Has pulled out of the Regional Comprehensive Partnership which could be the Worlds Largest trade pact citing concerns that the deal could hurt the countrys farmers businesses workers and consumers without india the agreement made in bangkok will include the 10 members of the association of Southeast Asian nations as well as china japan and south korea and new Zealand Indian Prime Minister Narendra Modi said of this decision when i measure the r. C. P. Agreement with the respect of the interests of all indians i do not get a positive answer the green members expect the deal to be signed sometime next year and Chinese Vice Foreign minister leo chang spoke about the agreement and the possibility of india joining at a later date. Whenever india is ready they are well get on board as for the significance it was a large. Understand how much the Large Population definitely will play a role in the economic recession that. You know in all the time it is did you know when she its impact would be
American studies so rob it is a pleasure to have you here again now what are the concerns that were seeing that forced india to back out of this trade pact indias concerns are still across the board it ranges from management of data flows to good straight to agriculture. Imports but fundamentally its about india having a weak Manufacturing Sector and being scared that there will be a flood of manufacturing imports which will displace a lot of people in india the past history of indias free trade agreements opera french and trade agreements that have the agreement the trade deficit has increased and theyre expecting that will happen this time around and they just consummate that politically now theres also been quite a bit of a contentious relationship between china and india when it comes to this trade pact can you unpack some of that for us and why this is india has suffered in large trade deficit with china for a long time. 15 years now and the difference just gets just keeps increas