Modi, Vance discuss trade agreement as Trump’s tariffs appear
(MENAFN) US Vice President J.D. Vance met with Indian Prime Minister Narendra Modi in New Delhi on Monday to discuss the progress of a bilateral trade agreement between the two nations. This meeting comes as President Donald Trump’s recently announced 90-day pause on new US tariffs is in effect.
According to a statement from the prime minister's office, the discussions focused on trade, technology, and defense cooperation. Both sides expressed satisfaction with the significant advancements in the negotiations for a mutually beneficial trade agreement, aimed at enhancing the welfare of both nations.
Fast-tracking the trade deal is a priority for India and the US, with the goal of doubling bilateral trade by 2030, a target set by Modi and Trump during their February meeting in Washington. Trump has previously criticized India’s tariffs, calling the country a "tariff abuser" and "tariff king," while acknowledging Modi as a tough negotiator.
Despite the uncertainty surrounding trade relations due to Trump’s tariffs, which affect nations including India, New Delhi has yet to officially respond. Reports suggest that India is focused on fast-tracking a trade deal that will address these tariffs and other trade barriers. It has also been reported that the Indian government is open to reducing tariffs on over half of its imports from the US, which totaled $41.8 billion in 2024.
Vance’s visit is his first official trip to India as vice president, accompanied by his wife, Usha Vance, who has Indian heritage, and their children. After closed-door talks with Modi at the prime minister’s residence, Vance and his family are scheduled to visit Jaipur and Agra.
The US is India’s largest trading partner, with bilateral trade reaching $131 billion in the past fiscal year, with India maintaining a trade surplus of over $41 billion.
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