Next week, US Vice-President JD Vance will travel to India for four days to meet with Prime Minister Narendra Modi in order to negotiate a bilateral trade agreement between the two nations.
On April 21, the first day of Vance’s trip, the two leaders are expected to meet to discuss geopolitical, trade, and economic relations.
According to a statement from India’s foreign ministry, “the visit will provide an opportunity for both sides to review the progress in bilateral relations.”
As the two nations attempt to finalize a trade deal by the fall, Vance is making his first trip to India since assuming office.
The visit takes place as the US and China’s trade battle heats up, with President Donald Trump imposing tariffs of up to 145% on Chinese imports and perhaps as high as 245% on certain. China retaliated by imposing 125% tariffs on US goods.
Prior to the announcement of a 90-day delay, India was one of the nations that was subject to 27% US duties on April 2.
Since then, Washington and Delhi have been attempting to wrap up trade talks as soon as possible.
In an effort to counter Trump’s threats, India has already lowered tariffs on a number of imports and is reportedly thinking about implementing more extensive reductions.
Up until recently, India’s biggest trading partner was the United States, with $190 billion (£144 billion) in bilateral trade.
Shortly after Trump was sworn in, Prime Minister Modi traveled to the US in February, and the two leaders had a meeting.
Modi praised a “mega partnership” with the US during his visit, and the two leaders signed an agreement allowing India to purchase more from the US, including gas and oil.
The ambitious goal of more than doubling bilateral trade to $500 billion was established by Trump and Modi.
Source: BBC, CNN, Nikei Asia
