New Delhi, Feb. 18 -- In my previous article, 'Trump and the Threat to Global Trade: Much Ado About Nothing?' in Mint on 20 January, I had made three predictions: One, that Trump will bring back unilateralism; two, that he is likely to repeat the tariff actions of his first tenure; and three, that he is unlikely to succeed (just like in the past). While the first two predictions stand vindicated, the future is yet to unfold. I also pointed out that his success in reducing America's trade deficits would be good for India's trade in services.

Prime Minister Narendra Modi has now completed a round of discussions with US President Donald Trump. While little has been signed on the dotted line, the contours of a planned India-US deal are now c...