India-US trade deal didn’t happen because Modi did not call Trump: Lutnick
New York (PTI): US Commerce Secretary Howard Lutnick has said the trade deal with India did not happen because Prime Minister Narendra Modi did not call US President Donald Trump.
In an interview with the ‘All-in Podcast’ on Thursday, Lutnick detailed how the India-US trade deal has not happened till now.
“I'll tell you a story about India. I did the first deal with the UK, and we told the UK that they had to get it done by two Fridays from now. That the train was going to leave the station by two Fridays, because I have a lot of other countries doing things, and you know, if someone else is first, they're first. President Trump does deals like a staircase,” Lutnick said.
“(The) first stair gets the best deal. You can't get the best deal after the first guy,” he said.
Lutnick said Trump does things that way “because that way it incents you to come to the table”.
He recalled that after the UK deal, everyone asked Trump which country will be next and while the president talked about a variety of countries, “but he names India a couple of times publicly".
“And we were talking (with) India, and we told India, ‘you have three Fridays’. Well, they have to get it done,” he said.
Lutnick said that while he would negotiate the contracts with the countries and set the whole deal up, "But let's be clear, it's his (Trump) deal. He is the closer. He does the deal. So I said ‘You got to have Modi, it's all set up, you have to have Modi call the President. They (India) were uncomfortable doing it, so Modi didn't call.”
Lutnick said after that Friday, the US announced trade deals with Indonesia, the Philippines and Vietnam.
He added that Washington was negotiating with other countries and “assumed India was going to be done before them”.
“I have negotiated them at a higher rate. So now the problem is the deals came out at a higher rate. And then India calls back and says, ‘Oh, okay, we are ready’. I said, 'ready for what, it was like three weeks later’,” he said.
“I go, ‘Are you ready for the train that left the station three weeks ago?’ So what happened is they just…there's sometimes there's that seesaw, and people are just on the wrong side of the seesaw,” the trade secretary said.
"So what happened is India just was on the wrong side of the seesaw, and it was just they couldn't get it done,” Lutnick said, imitating a seesaw with his hands.
“And so what happened is all these other countries kept doing deals, and they're (India) just further in the back of the line,” he said.
Lutnick said he wanted the trade deal with India to happen “in between the UK and Vietnam because that's what I negotiate”.
“And they remember, and I remember, and they say, ‘but you agreed’. And I said, ‘then, not now, then’. So that's the problem. India will work it out, but there's a lot of countries and they each have their own deep internal politics, and to get something approved by their parliament… these are deeply complex things,” he added.
Lutnick’s remarks came a few days after Trump said that Modi knew he was unhappy with India's purchases of Russian oil and that Washington could raise tariffs on New Delhi "very quickly".
The threat by the US president came at a time when the two countries were negotiating a bilateral trade agreement.
So far, six rounds of negotiations have been held for that. The pact includes a framework deal to resolve the 50 per cent tariffs on Indian goods entering the US.
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Real Madrid fines Valverde and Tchouaméni half a million euros each for altercation
Barcelona (AP): Real Madrid slapped players Federico Valverde and Aurélien Tchouaméni with half-a-million-euro ($588,000) fines on Friday for their altercation during practice.
The massive fines came a day after the midfielders tussled when the team trained. Valverde said in a post on social media on Thursday that no punches were thrown. But Valverde knocked his head on a table and he suffered a small cut that required a brief hospital visit.
On social media, Valverde initially called it a “meaningless fight” with a teammate and said “everything has been blown out of proportion."
His employers, however, considered it a significant enough breach of team discipline to nail both Valverde and Tchouaméni with fines that bite even the bank account of a top soccer player. The half-a-million euro penalties reflect the reputational damage the club was enduring in a chaotic end to a disappointing season.
In a statement, the 15-time European champion said its disciplinary action was concluded after both players expressed to the club “their complete remorse for what happened and apologized to one another.”
Madrid added they also apologized to their teammates, the coaching staff and club supporters, as well as showing their willingness to accept whatever disciplinary action the club deemed “opportune.”
Tchouaméni was back training with Madrid on Friday, two days before they play at Barcelona in a clasico. Madrid has to win otherwise Barcelona will be crowned La Liga champion.
After being notified of the fine, he posted a public apology to the club and its fans on social media.
“What happened this week in training is unacceptable,” Tchouaméni wrote. "I say this while thinking about the example we are expected to set for young people, whether in football or at school.
“Above all, I am sorry for the image we projected of the club.”
Valverde was not at practice due to the head knock.
Both players are set to play in the World Cup next month, with Tchouaméni playing for France and Valverde for Uruguay.
Chaotic end to a poor season
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The run-in between the players, who for seasons have played side by side in Madrid's midfield, came after they argued this week in previous training sessions. But tempers boiled over on Thursday. Spanish media was rife with reports that the players previously disagreed over the club's decision to let coach Xabi Alonso go after just months on the job.
It was not the only altercation involving Madrid players during training this week. Álvaro Carreras confirmed he was in a “minor” incident with a teammate. Spanish media said he and fellow defender Antonio Rüdiger got into a scuffle.
Álvaro Arbeloa, the coach who was promoted from Madrid's reserve team when Alonso was fired in January, will face tough questions on what went wrong inside the changing room when he gives a press conference on Saturday ahead of the clasico at Camp Nou.
Madrid is facing a second consecutive campaign without a major trophy amid rumors in the Spanish media that club president Florentino Pérez is considering bringing back Jose Mourinho to straighten out his underperforming team.
