United States President Donald Trump on Thursday said that Washington and New Delhi will finalise a comprehensive trade agreement, praising Prime Minister Narendra Modi in warm personal terms even as broader bilateral trade negotiations continue.
Speaking to media, Trump said India had historically benefited from an unequal trade relationship with the United States.
"For years, India took advantage of the United States.They charged us tremendous tariffs and paid nothing," he said. However, he indicated that the dynamics had since shifted in America's favour, adding, "Now it is the exact reverse and we are making a lot of money with India."
Meanwhile, Trump also praised Prime Minister Narendra Modi.
"We will get to a deal because I like your Prime Minister a lot; he is a good friend of mine, and we get along well. We have a good relationship," he said.
A US delegation was in India earlier this week and concluded four days of negotiations on an interim bilateral agreement on Thursday.
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India's Commerce Ministry said the trade talks were marked by a spirit of cooperation and pragmatism, with both sides reaffirming their commitment to concluding a mutually beneficial agreement that strengthens bilateral trade and economic ties.
Trump's global trade war had hit India particularly hard, with Washington at one point imposing tariffs of up to 50% on Indian goods, causing bilateral relations to fall to new lows.
A significant breakthrough came in February, when the two countries finalised a trade deal worth more than $500 billion, with the US agreeing to reduce its reciprocal tariff on India from 25% to 18%, while India committed to moving its tariffs and non-tariff barriers on American goods to zero.
Friday's statement from Trump suggests further negotiations on a fuller Bilateral Trade Agreement remain ongoing.
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