Trump Confident of India Trade Deal, Cites Past Exploitation

Former U.S. President Donald Trump asserted that India had exploited the United States for years by imposing substantial tariffs while paying little in return. He expressed optimism about finalizing a trade agreement with Indian Prime Minister Narendra Modi, whom he described as a 'good friend' with whom he shares a strong relationship.

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For years, India took advantage of the United States. They charged us tremendous tariffs and paid nothing. Now it is the exact reverse and we are making a lot of money with India.

Trump's remarks highlighted a perceived shift in trade dynamics, stating, "Now it is the exact reverse and we are making a lot of money with India." His comments came as U.S. Trade Representative officials concluded a four-day visit to New Delhi, aimed at advancing bilateral trade discussions.

Talks between the two nations covered various issues, including market access, non-tariff barriers, customs procedures, trade facilitation, and economic security. However, the U.S. also recently identified India among 60 economies for allegedly failing to adequately prevent imports produced with forced labor, a move that could lead to trade actions.

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But we will get to a deal because I like your Prime Minister [Narendra Modi] a lot. He is a good friend of mine, and we get along well. We have a good relationship.

Separately, the U.S. is reviewing a crucial waiver that permits countries, including India, to purchase Russian oil. This exemption, initially granted to mitigate global energy supply disruptions, is scheduled to expire on June 17. U.S. officials indicated a desire to end the waiver as soon as possible, aligning with the country's policy of sanctioning Russian oil.

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The failure of our most important trading partners to address the importation of goods made with forced labor is unacceptable. This creates a dynamic where American workers are forced to compete globally on an unlevel playing field.

India resumed its purchases of Russian oil under this waiver after energy supplies from the Persian Gulf region were impacted. Any decision regarding the extension of this waiver will be made by the U.S. Treasury Department.

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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.