The Dow Jones (DJIA) opened Wednesday’s trading session in the green as the U.S. and India resume trade negotiations following a volatile stretch of uncertainty.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Indian Commerce Minister Piyush Goyal is in the U.S. to negotiate trade between the two countries, saying India aims to boost its purchases of American energy. “And being close friends, natural partners, our energy security goals will have a very high element of U.S. involvement,” Goyal said.
U.S.-India Relations Strained by Tariffs and H-1B Visa Hike
Tensions between the two countries rose last month after President Trump doubled India’s tariff rate to 50% as punishment for its purchases of Russian oil. He also accused India of indirectly funding Russia’s offensive against Ukraine.
In addition, Trump raised the H-1B visa fee to $100,000 on Friday, disproportionately harming Indian workers given that they have accounted for about 70% of the visas in recent years. India’s government criticized the move, saying that it could have “humanitarian consequences by way of the disruption caused for families.”
Stay ahead of macro events with our up-to-the-minute Economic Calendar — filter by impact, country, and more.