India US Trade Deal: A new trade deal has been announced by the United States President Donald Trump and Indian Prime Minister Narendra Modi. The deal would mean that New Delhi would no longer buy oil from Russia and increase the imports of American goods.
Under the new trade deal, India would now face a reduced tariff of 18 percent, replacing the earlier 25 percent tariff and the additional 25 percent.
US Secretary of Agriculture Brooke Rollins remarked the India USA trade deal would help USA export more of its farm products to the massive market of India.
Now, the US Secretary of State Marco Rubio would meet Indian External affairs minister S Jaishankar On February 3.
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Remarks by PM Modi on India US Trade Deal
Narendra Modi remarked that the new deal would benefit the people of both India and the United States. Modi remarked it would unlock countless opportunities while being vital for global stability, peace and prosperity.
The first mention of a trade deal between the two countries came in a social media post by Sergio Gor, the US Ambassador to India. This was followed by a post on Truth Social by Trump followed by a post from Modi.
Remarks By Trump On Deal
Trump remarked that he is reducing tariffs and non-tariff barriers for India. The US President said it was an honour to speak with the Indian PM, calling him one of the most respected and powerful leaders. Trump added that the Modi government would buy more than $500 billion worth of American technology, energy, coal, agricultural products and other goods. Trump also said India would no longer buy oil from Russia. In recent weeks, Donald Trump has made several of US allies angry over his obsession for Greenland. Trump remarked that any country that comes in his way to annex Greenland would face tough economic sanctions and tariffs. The India and European Union trade deal probably pushed Trump to immediately get into deal mode with India. The US shutdown and selling off of US treasuries by many countries may also be possible triggers behind the rushed deal.
