Modi and Trump Discuss Trade Progress Amid High Tariffs
Prime Minister Narendra Modi and President Donald Trump reviewed the progress of trade talks. Discussions are expected to continue, despite U.S. tariffs impacting $50 billion of Indian exports, mostly affecting textiles, gems, jewellery, and shrimp industries.
Indian Prime Minister Narendra Modi has recently communicated with U.S. President Donald Trump, emphasizing the positive trajectory in trade negotiations between the two nations. The leaders discussed the progress made and acknowledged the necessity for continued dialogue to resolve ongoing trade issues.
According to officials from India's commerce ministry, further discussions are anticipated to take place soon in either Washington or New Delhi. This comes after a series of meetings which have set the stage for the next phase of negotiations.
The discussions occur against the backdrop of significant tariffs imposed by the U.S., including a 50% levy on most of India's exports. This tariff impacts approximately $50 billion worth of goods, significantly affecting labor-intensive sectors such as textiles, gems and jewellery, and the shrimp industry.
(With inputs from agencies.)
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