Trump plans ‘fantastic commerce offers’ with PM Modi quickly after reciprocal tariff bombshell
Lower than two hours after US President Donald Trump introduced reciprocal tariffs on commerce companions, he sat down with Prime Minister Narendra Modi with an goal of discovering a center floor and making ‘fantastic commerce offers’ with India.
“They are going to be buying a variety of our oil and gasoline. We will make some fantastic commerce offers for India and for the US,” Trump mentioned whereas speaking to the reporters on the White Home.
That is the primary assembly between the 2 leaders since Trump assumed workplace, his second time period as US President, on January 20.
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Forward of the assembly Trump expressed confidence that the US and India would forge “fantastic commerce offers” that may profit each nations. He additionally emphasizing his admiration for PM Modi’s management. “Prime Minister Modi is a good chief,” Trump mentioned, including that each international locations would enter into useful commerce agreements.
Nonetheless, simply hours earlier than his assembly with Modi, Trump unveiled his plan to impose reciprocal tariffs on all nations, aiming to match US import duties with these charged by different international locations. “I’ve determined for functions of equity that I’ll cost a reciprocal tariff,” Trump said within the Oval Workplace. “It is honest to all. No different nation can complain.”
Whereas the brand new tariff coverage may affect commerce with a number of international locations, Trump particularly highlighted India’s place, noting that the nation is “proper on the high of the pack” in relation to tariffs. The announcement is anticipated to have penalties for US-India commerce relations, particularly with PM Modi looking for to barter favorable phrases for his nation in the course of the talks.
What’s on the playing cards?
The talks between the 2 leaders are anticipated to yield vital agreements, significantly within the areas of defence and commerce. Trump has proven eager curiosity in increasing US defence gross sales to India, with discussions probably resulting in the finalization of offers together with the co-production of Stryker armoured preventing autos in India.
Commerce additionally stays a key focus of the bilateral relationship. PM Modi’s administration is keen to keep away from tariffs and develop the commerce basket with the US. A doable increase to commerce in power, significantly oil and gasoline, can also be on the horizon, with Trump noting that India can be “buying a variety of our oil and gasoline.”
Earlier than assembly with Trump, Prime Minister Modi held separate discussions with US Nationwide Safety Advisor Mike Waltz, Director of Nationwide Intelligence Tulsi Gabbard, billionaire Elon Musk, and Republican chief Vivek Ramaswamy.
