Trump Praises Prime Minister Modi
US President Donald Trump again showered praise on Indian Prime Minister Narendra Modi. Trump expressed that he has great respect for Modi and characterized him as a good and capable leader. He said that Modi is greatly admired and possesses a strong demeanor in managing difficult situations.
Trade Agreement Between the US and India to Come Soon
Trump announced that a trade agreement between the US and India will be completed shortly. He made this announcement when he was at the Asia Pacific Economic Cooperation (APEC) summit, which he attended in South Korea. Trump noted the positive trajectory of Indo-US relations and indicated that negotiations are going on very well.
Trump Recalls India-Pakistan Tensions
In his address to the summit, Trump mentioned previous tensions between Pakistan and India. He had stated that he was responsible for averting a possible war between the two nuclear powers. Trump indicated that Modi threatened to impose rising tariffs if the tensions escalated further, and such pressure contributed to lowering animosity.
Expected Impact of the Trade Deal
Reports indicate that the India-US trade talks are almost at a final stage. The new trade agreement could result in a cut in the tariffs that were earlier fixed at about 50 percent. Tariffs are likely to come down to almost 15–16 percent once the deal is sealed.
Alterations in Oil Import Policy
As per recent news, India has also committed to cutting its Russian oil imports as part of more comprehensive talks connected with the trade agreement. This could further cement India-US economic ties and stabilize trade ties between the two countries.
Tags Cloud
