Latest news with #US-IndiaBilateralTradeAgreement
New Indian Express
30-04-2025
- Business
- New Indian Express
Tariff talks with India going great, think will have deal: Trump
NEW YORK/WASHINGTON: US President Donald Trump said negotiations with India over a bilateral trade deal are 'coming along great' and he thinks Washington will "have a deal" with New Delhi. Trump made the remarks on Tuesday while speaking to reporters before departing the White House for a rally in Michigan marking the first 100 days of his second administration. 'India is coming along great. I think we'll have a deal with India," said the president. "The Prime Minister (Narendra Modi) as you know was here three weeks ago, and they want to make a deal. We'll see what happens,' he added. Prime Minister Modi visited the White House in late February. Earlier in the day, Treasury Secretary Scott Bessent told reporters in the White House that the US is 'very close' to a trade deal with India. He said that America's Asian trading partners and allies "have been the most forthcoming in terms of doing the deals". At a press briefing, he spoke about Vice President JD Vance's India visit last week. "I think that he and (Prime Minister Narendra) Modi made some very good progress. So I could see some announcements on India.' Bessent added that he can also see the contours of a deal with South Korea coming together and substantial talks with Japan. Responding to a question on the timeline for a trade deal, he said, "I think that we are very close on India and …India, in a funny way, is easier to negotiate with (than) many other countries because they have very high tariffs and lots of tariffs. 'So it's much easier to confront the direct tariffs when as we go through these unfair trade deals that have been put in over decades, that the non-tariff trade barriers can be much more insidious and also harder to detect. "So a country like India, which has posted and ready tariffs, it's much easier to negotiate with them," he said, adding that negotiations with New Delhi are "moving well'. After Vance's India visit, a statement from his office welcomed significant progress in the negotiations for a US-India Bilateral Trade Agreement (BTA). It also formally announced the finalisation of the Terms of Reference for the negotiations, laying down a roadmap for further discussions about the shared economic priorities. According to the statement, the BTA presents an opportunity to negotiate a new and modern trade agreement focused on promoting job creation and citizen well-being in both countries to enhance bilateral trade and supply-chain integration in a balanced and mutually beneficial manner. Guided by their respective visions of 'Amrit Kaal for India' and 'Golden Age for America,' the trade agreement is expected to create new opportunities for growth for workers, farmers, and entrepreneurs in both countries, the statement said. Deliberations between Indian and US officials on the proposed bilateral trade agreement began in Washington last week to with an aim to iron out issues and give an impetus to the negotiations. India's chief negotiator, Additional Secretary in the Department of Commerce Rajesh Agrawal, is leading the team for the first in-person talks between the two countries. On April 15, Commerce Secretary Sunil Barthwal stated that India would try to close the negotiations as quickly as possible with the US. In a joint statement issued after their bilateral meeting in Washington in February this year, President Trump and PM Modi announced plans to negotiate the first tranche of a mutually beneficial, multi-sector BTA by the fall of 2025. The leaders had committed to designate senior representatives to advance these negotiations and to ensure that the trade relationship fully reflects the aspirations of the COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce and Technology). In the past, Trump has called India a 'tariff king" and a "big abuser'. During a joint press conference with Modi in the White House on February 13, Trump had said that India has 'been very strong on tariffs', and 'I don't blame them, necessarily, but it's a different way of doing business. It's very hard to sell into India because they have trade barriers, very strong tariffs.' He announced sweeping reciprocal tariffs on several countries, including India and China, on April 2. However, on April 9, he announced a 90-day suspension of these tariffs until July 9 this year, except for those on China and Hong Kong, as about 75 countries approached America for trade deals. However, the 10 per cent baseline tariff imposed on the countries on April 2 remains in effect, besides the 25 per cent duties on steel, aluminium, and auto components.
NDTV
24-04-2025
- Business
- NDTV
"Great Leader": JD Vance Praises PM Modi During His India Visit
New Delhi: United States Vice President JD Vance on Monday said it was an "honour" to meet Prime Minister Narendra Modi and called the PM a "great leader" on the first day of his India visit. Vance also expressed gratitude for hosting his family at the PM's residence in New Delhi and said that PM Modi was "incredibly kind to my family." Responding to PM Modi's post on X, the US Vice President wrote, "It was an honor to see Prime Minister Modi this evening. He's a great leader, and he was incredibly kind to my family." It was an honor to see Prime Minister Modi this evening. He's a great leader and he was incredibly kind to my family. I look forward to working under President Trump's leadership to strengthen our friendship and cooperation with the people of India! — JD Vance (@JDVance) April 21, 2025 Vance further expressed willingness to strengthen friendship and cooperation between the two countries. "I look forward to working under President Trump's leadership to strengthen our friendship and cooperation with the people of India!" Vance said. PM Modi, after meeting Vance, said that both nations are committed to mutually beneficial cooperation in various sectors. "Pleased to welcome US Vice President JD Vance and his family to New Delhi. We reviewed the fast-paced progress following my visit to the US and meeting with President Trump. We are committed to mutually beneficial cooperation, including in trade, technology, defence, energy and people-to-people exchanges," PM Modi wrote on X. He also emphasised that India-US Comprehensive Global Strategic Partnership will be a "defining" partnership of the 21st Century for India and the world. During the meeting, the two leaders reaffirmed the strength of the India-U.S. Comprehensive Global Strategic Partnership and jointly launched the India-U.S. COMPACT (Catalyzing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century, which as described by a statement from US Vice President office is an "initiative anchored in mutual trust, shared interests, goodwill, and robust engagement of their citizens". The two leaders also welcomed the progress in the negotiations for a US-India Bilateral Trade Agreement (BTA). They formally announced the finalisation of the Terms of Reference for the negotiations. "Vice President Vance and Prime Minister Modi welcomed significant progress in the negotiations for a US-India Bilateral Trade Agreement (BTA) and formally announced the finalization of the Terms of Reference for the negotiations, laying down a roadmap for further discussions about our shared economic priorities," said the statement from Vance's office. It said BTA presents an opportunity to negotiate a new and modern trade agreement focused on promoting job creation and citizen well-being in both countries. The goal is to enhance bilateral trade and supply-chain integration in a balanced and mutually beneficial manner. "Guided by their respective visions of 'Amrit Kaal for India' and 'Golden Age for America,' BTA is expected to create new opportunities of growth for workers, farmers, and entrepreneurs in both countries," the statement said. The US Vice President, who is on a four-day official visit to India starting Monday, has arrived in Jaipur with his family for the second leg of his visit. Vance will visit Agra on April 23. The visit concludes with their departure from India on April 24 at 6:40 am. The visit comes closely on the heels of a positive and successful meeting between President Trump and Prime Minister Modi in Washington earlier this year.
Hans India
22-04-2025
- Politics
- Hans India
US Vice Prez Vance in Jaipur, to speak at Rajasthan International Centre today
Jaipur: United States Vice President JD Vance is scheduled to deliver a key speech on India-US bilateral relations at the Rajasthan International Centre on Tuesday. He, along with his family and US delegation, arrived in Jaipur late Monday night as part of his four-day visit to India. During his time in Pink City, Vance will also visit the historic Amber Fort, which has been closed to the public due to heightened security measures. The visit holds symbolic significance, evoking memories of former US President Bill Clinton's trip to Jaipur 25 years ago. Jaipur has been decked up to welcome the high-profile dignitary, with elaborate decorations adorning several parts of the city. The stretch from New Gate to Tripolia Gate has been draped in white cloth, extending up to Badi Chaupar, where the national flags of India and the United States are prominently displayed. Similar festive preparations have been carried out along Jawaharlal Nehru Marg, creating a grand visual welcome for the visiting delegation. Accompanied by his Indian-origin wife, Usha Vance, and their three children -- Ivan, Vivek, and Mirabel -- Vice President Vance headed straight to the iconic Rambagh Palace upon landing, where he will be staying during his Jaipur visit. Before arriving in Jaipur, Vance held a high-level meeting in New Delhi with Prime Minister Narendra Modi at the latter's official residence, 7 Lok Kalyan Marg. The Prime Minister hosted a private dinner for the Vice President and his family, underscoring the warmth of the India-US relationship. Taking to social media platform X, Prime Minister Modi posted, "Pleased to welcome US Vice President J.D. Vance and his family in New Delhi. We reviewed the fast-paced progress following my visit to the US and meeting with President Trump." "We are committed to mutually beneficial cooperation, including in trade, technology, defence, energy and people-to-people exchanges. India-US Comprehensive Global Strategic Partnership will be a defining partnership of the 21st Century for a better future of our people and the world," he added. Vice President Vance expressed his appreciation in return, writing on X, "It was an honour to see Prime Minister Modi this evening. He's a great leader, and he was incredibly kind to my family." "I look forward to working under President Trump's leadership to strengthen our friendship and cooperation with the people of India!" he added. During their discussion, both leaders welcomed the significant momentum achieved in the ongoing negotiations for a US-India Bilateral Trade Agreement (BTA). They formally announced the finalisation of the Terms of Reference for the negotiations, setting a clear roadmap for future dialogue aimed at deepening economic ties. The BTA is expected to serve as a modern trade framework designed to boost job creation and promote economic well-being in both countries. It seeks to enhance bilateral trade and supply-chain integration in a manner that is balanced and mutually beneficial. With visions of 'Amrit Kaal for India' and 'Golden Age for America', both sides view the agreement as a tool to unlock new avenues of growth for workers, farmers, and entrepreneurs across both nations. Vice President Vance's visit follows closely after the successful meeting between President Donald Trump and Prime Minister Modi in Washington earlier this year. That engagement saw the two leaders reaffirm their shared commitment to the India-US Comprehensive Global Strategic Partnership. They also jointly launched the India-US COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century, a strategic initiative grounded in mutual trust, shared values, and active citizen participation. This visit provides both countries with an opportunity to take stock of the progress made on bilateral commitments and to review the implementation of the outcomes from the Joint Statement issued on February 13. In addition to bilateral issues, both sides exchanged views on regional and global matters of mutual interest. As security is ramped up for the Vice President's movements in Jaipur, local authorities have deployed round-the-clock police personnel and a tightly monitored convoy plan to ensure safety throughout the stay. Vice President JD Vance's visit is seen as a critical step in advancing the evolving partnership between the two democratic giants, setting the stage for deeper cooperation in the years to come.
Times of Oman
22-04-2025
- Business
- Times of Oman
"Great leader": US VP Vance lauds PM Modi during his India visit
New Delhi: United States Vice President JD Vance on Monday said it was an "honour" to meet Prime Minister Narendra Modi and called the PM a "great leader" on the first day of his India visit. Vance also expressed gratitude for hosting his family at the PM's residence in New Delhi and said that PM Modi was "incredibly kind to my family." Responding to PM Modi's post on X, the US Vice President wrote, "It was an honor to see Prime Minister Modi this evening. He's a great leader, and he was incredibly kind to my family." Vance further expressed willingness to strengthen friendship and cooperation between the two countries. "I look forward to working under President Trump's leadership to strengthen our friendship and cooperation with the people of India!" Vance said. PM Modi, after meeting Vance, said that both nations are committed to mutually beneficial cooperation in various sectors. "Pleased to welcome US Vice President JD Vance and his family to New Delhi. We reviewed the fast-paced progress following my visit to the US and meeting with President Trump. We are committed to mutually beneficial cooperation, including in trade, technology, defence, energy and people-to-people exchanges," PM Modi wrote on X. He also emphasised that India-US Comprehensive Global Strategic Partnership will be a "defining" partnership of the 21st Century for India and the world. During the meeting, the two leaders reaffirmed the strength of the India-U.S. Comprehensive Global Strategic Partnership and jointly launched the India-U.S. COMPACT (Catalyzing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century, which as described by a statement from US Vice President office is an "initiative anchored in mutual trust, shared interests, goodwill, and robust engagement of their citizens". The two leaders also welcomed the progress in the negotiations for a US-India Bilateral Trade Agreement (BTA). They formally announced the finalisation of the Terms of Reference for the negotiations. "Vice President Vance and Prime Minister Modi welcomed significant progress in the negotiations for a US-India Bilateral Trade Agreement (BTA) and formally announced the finalization of the Terms of Reference for the negotiations, laying down a roadmap for further discussions about our shared economic priorities," said the statement from Vance's office. It said BTA presents an opportunity to negotiate a new and modern trade agreement focused on promoting job creation and citizen well-being in both countries. The goal is to enhance bilateral trade and supply-chain integration in a balanced and mutually beneficial manner. "Guided by their respective visions of 'Amrit Kaal for India' and 'Golden Age for America,' BTA is expected to create new opportunities of growth for workers, farmers, and entrepreneurs in both countries," the statement said. The US Vice President, who is on a four-day official visit to India starting Monday, has arrived in Jaipur with his family for the second leg of his visit. Vance will visit Agra on April 23. The visit concludes with their departure from India on April 24 at 6:40 am. The visit comes closely on the heels of a positive and successful meeting between President Trump and Prime Minister Modi in Washington earlier this year.
NDTV
21-04-2025
- Business
- NDTV
"Great Leader": JD Vance Lauds PM Modi During His India Visit
New Delhi: United States Vice President JD Vance on Monday said it was an "honour" to meet Prime Minister Narendra Modi and called the PM a "great leader" on the first day of his India visit. Vance also expressed gratitude for hosting his family at the PM's residence in New Delhi and said that PM Modi was "incredibly kind to my family." Responding to PM Modi's post on X, the US Vice President wrote, "It was an honor to see Prime Minister Modi this evening. He's a great leader, and he was incredibly kind to my family." It was an honor to see Prime Minister Modi this evening. He's a great leader and he was incredibly kind to my family. I look forward to working under President Trump's leadership to strengthen our friendship and cooperation with the people of India! — JD Vance (@JDVance) April 21, 2025 Vance further expressed willingness to strengthen friendship and cooperation between the two countries. "I look forward to working under President Trump's leadership to strengthen our friendship and cooperation with the people of India!" Vance said. PM Modi, after meeting Vance, said that both nations are committed to mutually beneficial cooperation in various sectors. "Pleased to welcome US Vice President JD Vance and his family to New Delhi. We reviewed the fast-paced progress following my visit to the US and meeting with President Trump. We are committed to mutually beneficial cooperation, including in trade, technology, defence, energy and people-to-people exchanges," PM Modi wrote on X. He also emphasised that India-US Comprehensive Global Strategic Partnership will be a "defining" partnership of the 21st Century for India and the world. During the meeting, the two leaders reaffirmed the strength of the India-U.S. Comprehensive Global Strategic Partnership and jointly launched the India-U.S. COMPACT (Catalyzing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century, which as described by a statement from US Vice President office is an "initiative anchored in mutual trust, shared interests, goodwill, and robust engagement of their citizens". The two leaders also welcomed the progress in the negotiations for a US-India Bilateral Trade Agreement (BTA). They formally announced the finalisation of the Terms of Reference for the negotiations. "Vice President Vance and Prime Minister Modi welcomed significant progress in the negotiations for a US-India Bilateral Trade Agreement (BTA) and formally announced the finalization of the Terms of Reference for the negotiations, laying down a roadmap for further discussions about our shared economic priorities," said the statement from Vance's office. It said BTA presents an opportunity to negotiate a new and modern trade agreement focused on promoting job creation and citizen well-being in both countries. The goal is to enhance bilateral trade and supply-chain integration in a balanced and mutually beneficial manner. "Guided by their respective visions of 'Amrit Kaal for India' and 'Golden Age for America,' BTA is expected to create new opportunities of growth for workers, farmers, and entrepreneurs in both countries," the statement said. The US Vice President, who is on a four-day official visit to India starting Monday, has arrived in Jaipur with his family for the second leg of his visit. Vance will visit Agra on April 23. The visit concludes with their departure from India on April 24 at 6:40 am. The visit comes closely on the heels of a positive and successful meeting between President Trump and Prime Minister Modi in Washington earlier this year.
