India replaces Italy to bag 10th spot in US trade deficit rankings in 2024

The Trump administration has earmarked clearly three areas on the basis of which it will determine trade negotiations. One clearly is to look at ways to reducing its trade deficit with some countries

India may not have been on the list of the top 10 countries with which the US had the highest trade deficit in calendar year (CY) 2023, but there was cause for concern for India. Based on data from January to October of CY 2024, and due to a 

significant increase in electronics exports to the US, India is now on the 10th spot, replacing Italy. 

Trump has made it publicly clear that he does not approve of the widening trade deficit with certain countries and plans to reduce it through measures such as imposing stiff tariffs. His transition team is