Trump & Modi discuss trade balance, energy, & defense ties
During a joint press conference in Washington, Trump announced an agreement for India to purchase more American oil and gas.
KATHMANDU: U.S. President Donald Trump and Indian Prime Minister Narendra Modi held a crucial meeting, focusing on addressing trade imbalances between the two nations.
During a joint press conference in Washington, Trump announced an agreement for India to purchase more American oil and gas.
“India is buying a lot of our energy, and they need it. We have the supply,” he said.
Prime Minister Modi emphasized India’s commitment to energy security, stating, “We will focus on expanding trade in oil and gas, and we plan to invest further in nuclear energy.”
Trump also highlighted the need for fair trade, arguing that the U.S. must impose tariffs to balance its partnerships. He noted that India applies high tariffs on American goods and announced future sales of U.S. military hardware, including F-35 fighter jets. “Our relationship is incredible,” Trump said, underscoring the strong personal and diplomatic ties between the two leaders.
Addressing reporters, Trump defended his tariff policies, stating, “Our trade partners are sometimes worse than our adversaries.” He acknowledged that tariffs might slightly raise consumer prices but insisted they would create jobs and boost domestic production.
Meanwhile, a White House statement revealed that the U.S. has imposed a 5% import duty on Indian agricultural products, while India maintains a 100% tariff on American motorcycles.
This bilateral agreement is expected to redefine trade relations and help bridge the trade gap between the two countries.
