The ugly trade dispute between the US and China has already proven costly for both nations. With millions of cargoes and investments stuck in ports, both economies are left stalled. Both sides have also imposed tariffs on each other. However, some countries stand to receive crucial opportunities from this misfortune.
Countries like Spain and India are ready to step in once the opportunity presents itself. Spain already has a deal in place with a Chinese economy that's in no danger of bottoming out. The US, for its part, has other partners it can trade with. Where China is missing, India may be finally ready to step in, India Times notes. India has a lot of products which can fulfill the US' missing stocks.
Various products include producing like grapes, corn, wheat, and cotton. There are also other manufacturing materials such as tobacco, certain chemicals, and lubricants. These are needed to produce raw materials as well as manufacture new products.
The tariffs have already reached a level where each side has retaliation in mind. The US-led the way by imposing Trump-led tariffs; China, meanwhile, only responded in kind by imposing tariffs on their own. India stands to receive more with the US, while it could also lose with China. Business Times notes a trade agreement with the US could be met with retaliation from China, if only because certain terms and deals have to be honored.
That, however, may be the last thing on India's mind. China has an existing policy with other countries and that's the Belt and Road Initiative. While India may make deals with the US, it doesn't make sense for China to alienate a potential partner in the Initiative. This is where India could have endless opportunities for growth, according to Business Today. China, as well, only imposes 5-10% duties on other countries, and this includes India.
India could play this dangerous game. Products which are sorely needed in the US are not what China needs. Presently, China's interest in India is only in corn, $600 million of which China has imported. India stands to win here, while China and the US remain in dispute.
