PM Modi with US President Donald Trump
NEW DELHI: United States President Donald Trump Thursday praised Prime Minister Narendra Modi again as both nations eye a month-long trade deal to materialise.“I like your Prime Minister a lot. He is a good friend of mine, and we get along well. We have a good relationship,” Trump said.Expressing optimism about the impending trade deal with New Delhi, Trump said the United States is “making a lot of money with India”.“For years, India took advantage of the United States. They charged us tremendous tariffs and paid nothing. Now it is the exact reverse and we are making a lot of money with India. But we will get to a deal,” he added.Trump’s latest remark comes a day after his administration proposed an additional 12.5% tariff on imports from 60 economies, including India.Momentum towards a deal has strengthened in recent weeks. US Ambassador to India Sergio Gor said the negotiations were nearing completion, with only a limited number of issues still unresolved. Commerce and Industry Minister Piyush Goyal has similarly indicated that most matters have been settled, with discussions now centred on finalising the remaining details before the first phase of the agreement is unveiled. A separate USTR proposal could further complicate negotiations. The review, conducted under Section 301 of the US Trade Act of 1974, covers 60 economies and focuses on concerns surrounding imports allegedly linked to forced labour.Earlier, India and the United States wrapped up four days of trade negotiations in New Delhi between June 1 and June 4, with officials from the Office of the United States Trade Representative (USTR), led by its chief negotiator, holding discussions with Indian counterparts on issues such as trade in goods, customs procedures, trade facilitation, non-tariff barriers and economic security cooperation.Both sides termed the talks constructive and said efforts were underway to conclude a mutually beneficial interim trade pact, while negotiations on a broader Bilateral Trade Agreement (BTA) continue in parallel.
