U.S. President Donald Trump and Indian Prime Minister Narendra Modi staggered at the White House in Washington, DC, USA on February 13, 2025.
Kevin Lamarque | Reuters
India and the United States will double by 2030 by 2030, Prime Minister Narendra Modi said in a joint press conference with U.S. President Donald Trump on Thursday The above bilateral trade work reached US$500 billion.
“Our team will soon work to reach a mutually beneficial trade agreement,” Modi said at the end of the meeting of two leaders in Washington.
Trump acknowledged India’s recent move to reduce tariffs on U.S. imports and said he will begin negotiations on trade differences and hopes to reach an agreement.
Modi said India and the United States will also work together on artificial intelligence and semiconductors, while focusing on building strong supply chains for strategic minerals.
Trump signs a comment President’s memorandum formulates his plan “Reciprocal tariffs” by foreign countries, including India.
Trump said the U.S. will only charge the same tariff rate as India, and the trade deficit with India can be resolved by selling oil and gas.
The total commodity transactions between the United States and India are estimated to be $129 billion in 2024According to the Office of the United States Trade Representative.
India imposes a simple average of 17% Tariffs on countries with the most popular national identity, Compared with the US 3.3%. The United States enjoys the MFN status in most major economies, except for some, including Russia.
India’s surplus with the United States, its third largest trading partner, It reached $45.7 billion last year. It is worth noting that the country’s imports Agricultural commodities hold a large 39% tariff.
“We are now a reciprocal country … We will charge any charges from India and we are going to charge them. Very fair way,” the U.S. president said in a press conference.
The president said that when his administration is committed to determining the appropriate tariff levels for each affected country, the countdown tariff will not take effect immediately.
Trump has imposed tariffs on China, Canada and Mexico and on imports of steel and aluminum. Trump’s tariffs on Canada and Mexico are currently being suspended, as both countries promise to combat illegal drug trafficking on their respective borders with the United States
