'I Am Going For A Trade Deal With India': Trump At APEC Meeting
"I am going to do a trade deal with India and I have great respect for PM Modi," he said at the APEC CEOs Luncheon in South Korea.
US President Donald Trump said on Wednesday he is ready for a trade deal with India. "I am going to do a trade deal with India and I have great respect for PM Modi," he said at the APEC CEOs luncheon in South Korea.
Trump emphasised his "great respect" for Modi while affirming his interest in a stronger economic relationship.
The US imposed a tariff of 50% on most Indian goods in August, half of which is a penalty for purchases of Russian oil.
Trump asserted his administration’s success in foreign policy, claiming, "We stopped a lot of wars, made our country strong," and noted that "around the world, we are signing one trade deal after another."
India and the US have been locked in trade negotiations since February. Washington's key demands include access to India's vast agriculture market, reduction of America's trade deficit and a halt to purchases of Russian oil.
New Delhi has resisted American entry to its farm sector, fearing the potential negative impact on its farmers and livestock holders. Reports indicate India may have started reducing Russian oil imports under pressure.
According to an Indian government official, both sides have narrowed their differences and are making "solid progress" toward a trade deal aimed at lowering punitive tariffs. Indian negotiators reportedly had positive meetings in Washington earlier this month.
The negotiations have been further complicated as Trump has repeatedly claimed using tariffs as a threat to stop the conflict between India and Pakistan in May.
New Delhi has repeatedly denied American mediation in a ceasefire with Pakistan after the success of Operation Sindoor, launched in the aftermath of the Pahalgam terror attack.
