US-China trade truce

The deal could pave the way for an agreement with India even though the negotiations have been tough so far

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An agreement between the US and China on a framework that will de-escalate trade tensions is great news as it could ease the way for many more bilateral trade agreements (BTA).

US President Donald Trump himself has tweeted that a deal with China "is done," subject to final approval from President Xi Jinping and himself. The US will get the rare earth metals it needs, while Chinese students can take up their places at American colleges. Last month, Washington and Beijing agreed a temporary truce over trade tariffs, but each country has since accused the other of breaching the deal.

A deal with India could be next in queue, even though negotiations in the latest trade talks in India have been tough over a few sticky issues—farm products, digital trade, and intellectual property. It was always expected the US would bargain hard. As such, even if an interim deal comes through before the July 9 deadline kicks in, India could consider it a win.