Trump threatens to stop subsidies to growing economies like India, China
New Delhi, 8 September: Within days after a ‘successful’ round of Indo-US talks at the level of foreign and defence ministers, US President Donald Trump has said his administration wants to stop the subsidies that growing economies like India and China have been getting.
Addressing a fundraiser event, President Trump said India and China “call themselves developing nations” and under that category, they get “subsidies”.
He said, “We have some of these countries that are considered growing economies. Some countries that have not matured enough yet…So we are paying them subsidies. Whole thing is crazy. Like India, like China, like others we say, ‘oh, they’re growing actually’.”
“We have to pay them money. This whole thing is crazy, but we’re going to stop it. We are going to stop it. We have stopped it,” he said.
Mr Trump, known for a unique style of functioning, said: “We are a developing nation, too, OK? We are. As far as I’m concerned, we are a developing nation. I want to be put down in that category because we are growing, too. We are going to grow faster”.
Amidst applause from the audience, he flayed the World Trade Organization and remarked “…. but a lot of people don’t know what that is, that allowed China to become this great economic power”.
It may be mentioned that at the end of inaugural ‘2 Plus 2 Indo US Dialogue’ in Delhi on September 6,
US Secretary of State Michael Pompeo hailed the leadership of President Trump and Indian Prime Minister Narendra Modi for having “truly put the relationship between India and the United States on a good plane with an upward trajectory”.