US President Donald Trump and Indian Prime Minister Narendra Modi held a high-stakes phone discussion that has paved the way for enhanced economic cooperation. Trump, posting on Truth Social, lauded the talk as an honor and detailed key outcomes that could reshape trade dynamics.
At the core was a new trade pact. The US will lower tariffs on Indian goods from 25% to 18% at Modi’s request, fostering reciprocity. India, in turn, will move toward zero tariffs and barriers on American exports, promoting fairer market access.
Energy security emerged as another focal point. Trump stated Modi consented to stop buying Russian oil, opting instead for increased supplies from America and possibly Venezuela. He linked this to de-escalating the Russia-Ukraine war, underscoring the human cost involved.
Modi also promised substantial investments under the ‘Buy American’ banner, targeting over $500 billion in purchases across sectors like energy, tech, farming, and coal. As Trump put it, both leaders are doers who deliver results, auguring well for future partnerships.
The timing is noteworthy, with India’s Foreign Minister S. Jaishankar set to visit Washington soon, potentially building on this momentum for broader geopolitical collaboration.