India is benefitting well on the international trade front due to trade war of America and China. India has exported more than $ 755 million (about Rs 5,360 crore) to the US in the first 6 months of the current year. According to a report by UN Trade and Investment Unit UNCTAD, there has been more exports of chemical, metals and ores from India to the US.
In fact, during the trade war between the US and China, trade between the two countries has come down drastically, which is also benefiting India. Through UNCTAD, India made a profit by selling more of Chemical ($ 243 million), Metals & Ores ($ 181 million), Electrical Machinery ($ 880 million) and Separate Machinery ($ 86 million). Along with this, exports of agriculture, food products, furniture, clothing and transport equipment have also increased.
The bilateral trade deficit in US-China- According to the research conducted, it has been found that due to the ongoing trade war between US and China, there has been a lot of decline in mutual trade between the two countries. Due to this, imports have increased in the US from countries which are not directly connected with trade wise. According to the same report, through trade war between the US and China, there was an impact of trade of about 21 million dollars in the first half of 2019.
Taiwan, Mexico, and the European Union have benefited significantly - higher US tariffs on Chinese products have made many countries more competitive in the US market. This has led to increased trade of these many countries in America. Taiwan, Mexico and the European Union have benefited greatly from the US-China trade war. UNCTAD said that South Korea, Canada and India have benefited less in trade, but still it is enough.
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