A state visit by President Trump to India has yielded a “joint statement” for future relations rather than a fully fleshed out trade deal. That’s not a surprise given India’s continuing commitment to the tariff-led “Make in India” industrial strategy. President Trump has nonetheless committed to cutting tariffs with India, though such a deal could take months to complete. Two tangible actions have come in purchases of military aircraft and sourcing of energy products. India will buy $3 billion of helicopters from Sikorsky and Boeing. The U.S. has also recently approved $2.9 billion of we...