US President Donald Trump on Thursday (June 4) expressed confidence that Washington and New Delhi would successfully conclude a trade agreement, while describing Prime Minister Narendra Modi as a close friend.
Speaking to reporters in the Oval Office, Trump said the two countries share a strong relationship despite longstanding trade disputes.
“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.”
The remarks come as India and the United States intensify negotiations on an interim bilateral trade agreement aimed at expanding economic cooperation and addressing market access concerns.
Trump renews criticism of India’s past tariff policies
While expressing confidence about a future deal, Trump repeated his longstanding criticism of India’s tariff regime.
The US president argued that American companies had faced significant barriers in the Indian market for years.
“For years, India took advantage of the United States.”
“They charged tremendous amounts of tariffs to our companies, and we didn’t charge them anything.”
Trump claimed the trade balance has now shifted in Washington’s favor.
“Now it is the exact reverse and we are making a lot of money with India.”
His comments reflect continuing US concerns over tariffs, market access restrictions and regulatory barriers faced by American businesses operating in India.
Four-day trade talks conclude in New Delhi
Trump’s remarks followed the conclusion of a four-day visit to India by officials from the Office of the United States Trade Representative.
The latest round of negotiations, held from June 1 to June 4, focused on advancing discussions toward an interim trade arrangement.
According to India’s Commerce Ministry, both sides approached the talks in a constructive manner.
The ministry said negotiations were conducted in a spirit of cooperation and pragmatism, with both countries reaffirming their commitment to reaching a mutually beneficial agreement.
Key issues on the negotiating table
Trade officials discussed a broad range of issues during the latest round of talks.
Among the major areas under discussion were:
-Market access
-Non-tariff barriers
-Customs procedures
-Trade facilitation measures
-Economic security cooperation
Both governments are seeking to strengthen bilateral trade ties while addressing longstanding concerns raised by businesses and policymakers.
US flags India in forced labour review
The trade discussions are unfolding against the backdrop of a recent US review of global supply chains.
Washington this week identified 60 economies, including India, for what it described as insufficient efforts to prevent imports linked to forced labour.
India was listed alongside countries such as China, Japan, Saudi Arabia, United Kingdom and United Arab Emirates.
The designation could potentially lead to future trade actions if concerns remain unresolved.
Russian oil imports remain part of broader trade conversation
Another sensitive issue influencing India-US economic relations is India’s purchase of Russian crude oil.
The discussions coincide with a US review of a waiver that currently allows several countries, including India, to continue importing Russian oil.
US Secretary of State Marco Rubio told Congress that the exemption was always intended to be temporary.
“We would like to end it as soon as we possibly can because the underlying policy of this country has been to sanction their oil.”
“These are time-limited waivers for the purpose of opening up more global supply.”
The waiver, first introduced in March and extended twice, is scheduled to expire on June 17.
Rubio said any decision on a further extension would be made by the US Treasury Department.
Russian oil purchases linked to wider geopolitical tensions
The exemption was originally introduced to ease disruptions in global energy supplies caused by the conflict in West Asia and instability around the Strait of Hormuz.
India increased purchases of Russian crude under the waiver after energy supplies from parts of the Gulf region were affected.
Russian oil imports have also emerged as a recurring point of discussion in trade negotiations between Washington and New Delhi.
Earlier this year, Trump imposed an additional 25 percent tariff on certain Indian imports, arguing that purchases of Russian crude were helping finance Moscow’s military operations in Ukraine.
The tariff was subsequently withdrawn after India committed to halting Russian oil imports, according to a White House fact sheet.
