The rate is well faster than most nations can dream of and it shows China's economy has steadied after decelerating every quarter of last year.

Though both are the world's leading nation in terms of economic growth, the US claims they continue to enjoy special trade benefits that come with a 'developing country' tag.

\"We will pro-actively support initiatives of government to promote India-US trade and reducing trade deficit with China,\" SUN Group Chairman Vikramjit Singh Sahney saidat the annual general meeting of ICC India.

Earlier in his career, Malpass served as the US Deputy Assistant Secretary of the Treasury for Developing Nations and Deputy Assistant Secretary of State for Latin American Economic Affairs.

Mr. Trump has repeatedly claimed that India is a \"tariff king\" and imposes \"tremendously high\" tariffs on American products