Earlier this month the U.S. added India to a list of countries it’s monitoring for possible currency manipulation aimed at boosting exports. The surplus dropped to $28 billion in 2017 from the $30.8 billion in 2016, according to data from the Office of the U.S. Trade Representative. India, which received its first U.S. oil shipment in August 2017, could import oil worth $4 billion, according to one of the officials. "India importing more from the United States, if it is in its interest, is a good thing. But Trump’s approach to trade has been fairly negative and counter productive," said Joshua P. Meltzer, Washington-based senior fellow at the Brookings Institution.

Source: Economic Times April 24, 2018 03:45 UTC