In the end analysis, the biggest concession that US President Donald Trump may have wrung out of Prime Minister Narendra Modi was the opportunity to announce the “deal" first.

The only reason that word appears in quotes is because, strictly speaking, no deal with Trump is done until it has been inked. The Canadians and Mexicans found that out the hard way.

What Modi and Trump have finalised is a framework for a deal, and interlocutors on both sides will now sit together to work on finalising a joint statement followed by the signing of the agreement. But despite no visibility on the fine print, the broad contours of the understanding have been placed in the public domain by both sides.

Under the agreement, nearly $30 billion worth of Indian exports will face........

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