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THE TRUMP CARD

Beyond Market|November, 2024
While the return of Donald Trump as US President may create new challenges, it could also present opportunities, particularly as the US seeks alternatives to China
THE TRUMP CARD

In The Day of the Jackal, a 1971 racy political thriller by Frederick Forsyth, a sniper takes perfect aim at French President Charles de Gaulle. However, as the shot is fired, the leader bends slightly to honour a war veteran, narrowly escaping death.

In an eerie coincidence, over 50 years after the novel was published, Donald Trump faced an identical situation in July ’24. Trump turned his head just as the assailant fired and avoided a fatal shot. Reports suggest Trump didn’t immediately react to the pain or bleeding from his ear and instead continued to shout, “Fight, fight, fight!” before being escorted to safety.

This defiance after the attack marked the turning point of the US Presidential polls and is an indicator of the disruption that the maverick billionaire may wreck on the world for the next four years. What Trump does next will be watched by the world, notably in Iran, Gaza and Ukraine, where the US President’s action may mean a difference between life and death for many.

India, too, would be touched by his policies, be it trade or immigration.

A look back at Trump’s first term reveals significant developments in India-US relations. His tenure, characterized by a mix of co-operation and controversy, left a lasting imprint on bilateral ties, particularly in defence, energy, and strategic areas.

During his term, India’s annual defence procurement from the US rose to $18 billion by 2019, with India gaining Tier I status in the Strategic Trade Authorization framework. Energy partnership between the two countries flourished under Trump, with the launch of the bilateral Strategic Energy Partnership in 2018. This led to India beginning crude oil and LNG imports from the US, reaching a value of $6.7 billion within two years, positioning the US as India’s sixth-largest source of hydrocarbon imports.

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