Breaking News: US President Donald Trump praises Indian Prime Minister Narendra Modi’s leadership and expresses optimism about India-US tariff talks.
Trump’s Optimism and Praise
During a press interaction at the swearing-in ceremony of the US attorney for New Jersey Alina Habba, Trump spoke highly of PM Modi’s leadership, calling him a “very smart man” and a “great friend.”
Trump mentioned that India has high tariffs but praised PM Modi for being smart and a good friend. He expressed confidence that the talks between India and the US on tariffs will be successful.
Plans for Bilateral Trade Agreement
Following Modi’s visit to the US in February, both leaders announced plans to negotiate a Bilateral Trade Agreement (BTA) to strengthen economic ties between the two nations. The first tranche of the BTA is expected to be finalized by the fall of 2025.
New Tariffs on Imported Vehicles
Trump recently declared a 25% tariff on all imported vehicles entering the United States, aimed at boosting domestic manufacturing. This move is set to take effect on April 2 and will impact nearly half of all vehicles sold in the US.
Reciprocal Tariffs on India and China
Earlier, Trump had announced plans to impose reciprocal tariffs on countries like India and China. He emphasized the need for fairness in trade relationships and stated that the US would charge similar tariffs imposed by these nations on American goods.
Trump also highlighted India’s high tariffs on automobile imports, stating that India charges over 100% in auto tariffs. He expressed his commitment to ensuring fair trade practices and protecting American interests.
Global Tariffs and Economic Policies
Trump’s tariff policies extend beyond India, targeting other nations like the European Union, China, Brazil, and Mexico. He emphasized the need to address trade imbalances and protect American industries from unfair practices.
In conclusion, Trump’s positive comments on PM Modi’s leadership and the ongoing tariff talks indicate a potential strengthening of economic ties between India and the US. The implementation of reciprocal tariffs and the negotiation of a Bilateral Trade Agreement are key steps towards achieving fair and balanced trade relations.
