Trump Optimistic About Resolving Trade Issues with India
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Synopsis
On March 29, President Donald Trump criticized India's tariffs as brutal while expressing optimism regarding trade relations between the US and India. He praised Prime Minister Modi and highlighted their strong relationship amidst concerns over trade imbalances.
Key Takeaways
- Trump described Indian tariffs as "brutal".
- He expressed confidence that trade relations will "work out very well".
- Concerns about the US trade deficit with India were raised.
- The total goods trade between the two nations reached an estimated $129.2 billion in 2024.
- Discussions on trade occurred between US and Indian officials.
Washington, March 29 (NationPress) US President Donald Trump, on Friday, referred to Indian tariffs as "brutal", yet remained hopeful that trade relations between the two nations would "work out very well".
The US President also praised Prime Minister Narendra Modi, highlighting their positive relationship. "It's brutal... it's brutal," Trump stated during a White House news conference when asked about trade negotiations.
"I believe it will work out very well between India and our nation," he added, without revealing details about potential plans or the extent of the impending increase on imports from India, which he is set to announce on April 2. This announcement will introduce a system of reciprocal tariffs that will align with the American tariffs imposed on imports from trade partner nations.
Trump referred to Modi as "a very smart man and a great friend of mine", and regarding their recent discussions at the White House, he stated, "we had very good talks." He further labeled Modi as "a great Prime Minister".
Additionally, Trump has expressed concerns regarding Indian tariffs and the trade imbalance between the two nations.
The US goods trade deficit with India was reported at $45.7 billion in 2024, marking a 5.4 percent increase ($2.4 billion) from 2023, according to the US Trade Representative (USTR).
Total goods trade between the two countries reached an estimated $129.2 billion in 2024.
American goods exports to India amounted to $41.8 billion, up 3.4 percent ($1.4 billion) from 2023, while total US goods imports from India reached $87.4 billion, a 4.5 percent increase ($3.7 billion) from the previous year.
Trump mentioned the possibility of exemptions and stated he might be "lenient" in the reciprocal tariff framework, although he did not specify any countries that would benefit.
Trade was a topic of conversation during a recent phone call between US Deputy Secretary of State Christopher Landau and India's Foreign Secretary Vikram Misri.
According to Tammy Bruce, spokesperson for the US State Department, "They discussed ongoing efforts to minimize barriers to establish a fair and balanced bilateral trade relationship, enhance collaboration in defense and technology, and promote security and prosperity throughout the Indo-Pacific region."
