Chennai, Aug. 18 -- Many of the deals that several countries have entered into with the US to avoid higher import tariff are symbolic and may not actualise, said Moody's Analytics.
In its commentary titled `A Summer of Trade Deals', Moody's Analytics has said instead of retaliating against US hiking up its import duties many countries have promised to increase their purchase of American goods or make investments in that country.
"The feasibility of these plans is in doubt, and several deal components look largely symbolic," Moody's Analytics said.
Citing the European Union (EU) that has promised to buy $750 billion in energy products by 2028, and significant amounts of defence goods, Moody's Analytics said: "It is simply not possible for...