Trump Praises PM Modi, Signals Breakthrough in US-India Trade Talks
Trump Praises PM Modi: US President Trump appreciated PM Modi and said he believes the US and India will soon reach a trade agreement. He pointed to their strong personal relationship as a positive sign.
Trump Modi Friendship: During a White House briefing on trade between the two nations, Trump emphasised his strong personal relationship with Indian Prime Minister Narendra Modi, describing him as a good friend with whom he has developed a strong rapport.
Trump Praises PM Modi: US President Acknowledges Trade Gap, Says US-India Deal Is on the Way
Trump acknowledged there were past trade imbalances but said he believes the US and India will eventually reach a deal.
He also said India benefited for years from high tariffs on its trade with the US, but that situation has changed.
India's Tariff-Free Ride Is Over, US Now Making Money: Trump
US-India trade deal: According to him, for many years, India took advantage of the United States by charging high tariffs and paying nothing in return. He now claims the situation has reversed, with the US making a lot of money from India.
The US President’s comments come as both countries work to strengthen economic ties and resolve long-standing trade issues. Trump suggested that his good relationship with Modi could help make an agreement possible.
India - US Trade Agreement: Trump Optimistic on US-India Trade as Both Nations Push for Bilateral Deal
"We will get to a deal," Trump said, expressing optimism about the future of US-India trade. In February, after a phone call between Trump and Modi, India and the United States issued a joint statement outlining the first phase of a Bilateral Trade Agreement (BTA), also known as an interim trade deal.
Under the proposed plan, the US agreed to lower tariffs on Indian goods from 50 per cent to 18 per cent. India and the United States also recently completed four days of trade talks in New Delhi from June 1 to June 4.
Officials from the US Trade Representative’s office, led by the chief negotiator, met with Indian officials to discuss trade in goods, customs, trade facilitation, non-tariff barriers, and economic security cooperation.
Bilateral Trade Agreement: India-US Trade Deal Nears Finish Line, Says US Ambassador
Trump Praises PM Modi: The talks were productive, and both sides are still working to finalise a mutually beneficial interim agreement while also making progress on a broader Bilateral Trade Agreement (BTA).
In recent weeks, signs of a breakthrough have increased. US Ambassador to India Sergio Gor said the negotiations are in their final stages, with only a small part of the agreement left to resolve.
Commerce and Industry Minister Piyush Goyal also said most issues are settled, and talks are now focused on the final details before the first part of the deal is announced.
US Tariffs on India: New US Tariff Plans Cast Shadow Over India Trade Negotiations
Despite the progress, there is still uncertainty because the Trump administration is considering a 12.5 per cent tariff on imports from 60 countries, including India.
Negotiations could also face challenges from a separate USTR proposal that might add more tariffs on imports from India and other major trading partners.
This review, conducted under Section 301 of the US Trade Act of 1974, covers 60 economies and examines concerns about imports linked to forced labour.
Trump Modi Latest News: US Proposes Tariffs of Up to 12.5% on Key Economies Including India, China
Under the proposal, economies that have adopted restrictions on such imports could face tariffs of 10 per cent, while those that have not could face duties of up to 12.5 per cent.
India, China, Japan, South Korea, the United Kingdom, Bangladesh, and Vietnam are among the economies included in the review.
Trump Modi Latest Update: Greer Flags Forced Labour Threat; India-US Deal Still Hopeful
US Trade Representative Jamieson Greer said countries that do not address imports linked to forced labour create unfair conditions for American workers.
Even with the uncertainty over tariffs, both India and the US remain hopeful that an interim trade agreement can be reached soon.
Trump Raises Harley-Davidson Issue, Highlights Unfair Tariffs Between US and India
Trump also talked about Harley-Davidson motorcycles, saying that high tariffs made it difficult for the famous American company to sell its bikes in India.
According to him, Harley-Davidson was not allowed to sell its motorcycles in the past. A 200% tariff was imposed, leading to the blockage of exports.
Harley-Davidson later set up factories in India. Trump said he thought this was unfortunate, but it happened before he became president.
He compared this to US tariff policies and pointed out that Indian motorcycle brands did not face the same challenges when selling in the US.
Trump also stated that Indian motorcycles were given free access to the US market, with no tariffs being applied.
The situation has since been completely reversed, with the US now making good money from India, Trump noted.
