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New Delhi: US President Donald Trump on Thursday expressed confidence that Washington and New Delhi would conclude a strong trade agreement, while praising Prime Minister Narendra Modi during his remarks at the World Economic Forum in Davos.
Speaking to Money Control on the sidelines of the summit, Donald Trump said trade ties between the two countries were moving in a positive direction. “Will have a great deal with India,” he said, signalling optimism about ongoing negotiations.
Trump also spoke warmly about his rapport with PM Modi. He described him as a “fantastic leader” and adding, “I have great respect for your Prime Minister.”
The latest comments come against the backdrop of a chequered trade relationship. In August last year, trade talks between India and the US collapsed, following which Trump doubled tariffs on Indian goods to 50 per cent — among the highest imposed globally. The move included a 25 per cent levy aimed at penalising New Delhi for continuing to purchase Russian oil.
Despite these tensions, both sides have repeatedly indicated their willingness to revive negotiations. India said last week that the two countries have come close to a deal several times since agreeing to restart talks in February last year.
India’s ambassador to the United States, Vinay Mohan Kwatra Gor, said both governments remain in regular contact. “Both sides continue to actively engage. In fact, the next call on trade will occur tomorrow,” he said while taking charge in New Delhi. Emphasising the broader relationship, Gor added, “Real friends can disagree but always resolve their differences.”
According to Gor, discussions are not limited to trade alone, with cooperation spanning security, counterterrorism, energy, technology, education and health.
External Affairs Minister S Jaishankar also spoke with US Secretary of State Marco Rubio last week. The conversation focused on cooperation in areas such as trade, critical minerals, nuclear energy and defence.
India and the United States have set an ambitious target of more than doubling bilateral trade to USD 500 billion by 2030. As part of efforts to reduce the trade deficit, New Delhi has committed to increasing imports of US energy and defence equipment. However, talks held last year failed to deliver a comprehensive agreement, leaving several key issues unresolved.
