WASHINGTON (NEXSTAR) – Throughout his journey to India, President Donald Trump mentioned the US will negotiate a significant commerce cope with that nation.
That has some within the tech sector watching intently.
“We shall be making very, very main, among the many greatest ever made, commerce deal,” Trump mentioned.
And that potential commerce deal might have a significant affect on the U.S. financial system, particularly the tech sector, and the communities it helps.
“We predict there’s an enormous alternative for us to extend the variety of items and companies which might be exported from the U.S. to India,” mentioned Jason Oxman, president and CEO of the Info Expertise Business Council, a commerce group representing many main U.S. tech firms.
He believes a commerce cope with India would make it simpler for the American tech trade to extend its footprint in a rustic of greater than a billion folks.
“I believe the chance for expertise firms is to export extra to India, each services,” Oxman mentioned.
By way of tech, some specialists say the true winners or losers may very well be a number of the U.S.’s main tech hubs—locations like San Francisco, Austin, or Seattle.”
“We predict a commerce deal between the U.S. and India is essential, however there are definitely some issues we have to handle,” Oxman mentioned.
A kind of considerations — tariffs on imported items and their affect on U.S. firms and communities.
“We take a look at the variety of jobs which might be immediately created within the U.S. by India commerce at this time, it’s about 200,000 jobs,” Oxman mentioned. “We predict there’s lots of room to develop with extra jobs, with extra commerce.”
However Trump has additionally mentioned reaching any deal will take months– probably not till after November’s election.