President Donald Trump revealed that a trade deal has been reached between India and the United States. The agreement involves a reduction in US reciprocal tariffs on Indian goods from 25% to 18%, emphasizing energy cooperation and broader geopolitical objectives. Trump shared that during a phone call with Prime Minister Narendra Modi, they discussed various topics, including trade and efforts to resolve the conflict between Russia and Ukraine.
The US President stated that as part of the deal, India will lower its tariffs and non-tariff barriers against the US to zero. Additionally, Prime Minister Modi agreed to increase purchases of American products, particularly in the energy, technology, agricultural, and coal sectors. Trump highlighted the significance of this agreement in strengthening the relationship between the two countries.
Trump also mentioned that India committed to buying over $500 billion worth of US goods, showcasing a mutual commitment to enhancing bilateral trade. The announcement followed a detailed public account from Trump after his conversation with PM Modi, aligning with the upcoming visit of India’s External Affairs Minister S. Jaishankar to the US.
The visit of Minister Jaishankar aims to participate in the Critical Minerals Ministerial led by Secretary of State Marco Rubio, focusing on supply chain resilience and strategic cooperation in critical minerals. This visit signifies the ongoing negotiations between India and the US to bolster trade and investment ties, with a particular emphasis on energy collaboration in the backdrop of the Russia-Ukraine conflict.
