Trump hails PM Modi as ‘my good friend’ who is confident of India-US trade deal | Today’s news
US President Donald Trump expressed confidence on Thursday (June 4th) that Washington and New Delhi will successfully strike a trade deal, calling Prime Minister Narendra Modi a close friend.
Speaking to reporters in the Oval Office, Trump said the two countries share a strong relationship despite longstanding trade disputes.
“We will agree because I like your prime minister very much; he is a good friend of mine and we get along well. We have a good relationship.”
The remarks come as India and the United States intensify negotiations on an interim bilateral trade agreement aimed at expanding economic cooperation and addressing market access issues.
Trump again criticizes India’s past tariff policy
While expressing confidence in a future deal, Trump reiterated his long-standing criticism of India’s customs regime.
The US president argued that US companies have faced significant obstacles in the Indian market for years.
“For years, India has taken advantage of the United States.”
“They were charging our companies huge amounts of tariffs and we weren’t charging them anything.”
Trump claimed that the balance of trade had now shifted in favor of Washington.
“Now it’s the exact opposite and we’re making a lot of money with India.”
His comments reflect ongoing US concerns about tariffs, market access restrictions and regulatory hurdles faced by US businesses operating in India.
The four-day trade talks conclude in Delhi
Trump’s remarks followed the conclusion of a four-day visit to India by officials from the Office of the United States Trade Representative.
The latest round of talks, held from June 1 to June 4, focused on progressing discussions toward an interim trade arrangement.
According to India’s Ministry of Commerce, both sides approached the negotiations in a constructive manner.
The ministry said the talks were conducted in a spirit of cooperation and pragmatism, with both countries reaffirming their commitment to reach a mutually beneficial agreement.
Key issues on the negotiating table
Trade officials discussed a wide range of issues during the latest round of negotiations.
The main areas discussed included:
-Trade facilitation measures
-Cooperation in the field of economic security
Both governments are seeking to strengthen bilateral trade ties while addressing long-standing concerns raised by businesses and policymakers.
The US has flagged India as part of a forced labor review
The trade discussions are developing on the back of a recent review of global supply chains in the US.
Washington this week identified 60 economies, including India, for not doing enough to prevent imports linked to forced labour.
India was listed alongside countries such as China, Japan, Saudi Arabia, Great Britain and the United Arab Emirates.
The designation could potentially lead to future trade actions if concerns remain unresolved.
Russian oil imports remain part of the broader trade conversation
Another sensitive issue affecting Indo-US economic relations is India’s purchase of Russian oil.
The discussions coincide with a US review of a waiver that currently allows several countries, including India, to continue importing Russian oil.
US Secretary of State Marco Rubio told Congress that the exemption was always intended to be temporary.
“We would like to end this as soon as possible because the basic policy of this country has been to sanction their oil.”
“These are time-limited exemptions to open up more global supply.”
The exemption, which was first introduced in March and extended twice, is due to expire on June 17.
Rubio said any decision on another extension would be made by the U.S. Treasury Department.
Russian oil purchases are linked to broader geopolitical tensions
The exemption was originally introduced to ease disruptions to global energy supplies caused by conflict in West Asia and instability around the Strait of Hormuz.
India increased purchases of Russian oil under a waiver after energy supplies from parts of the Gulf region were affected.
Russian oil imports have also emerged as a recurring point of discussion in trade talks between Washington and New Delhi.
Earlier this year, Trump imposed an additional 25 percent tariff on certain Indian imports, arguing that purchases of Russian oil help finance Moscow’s military operations in Ukraine.
The tariff was subsequently withdrawn after India pledged to stop importing Russian oil, according to a White House review.
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