Defence Minister Rajnath Singh on Tuesday lauded the India-US commerce deal, during which Washington diminished tariffs on India to 18 per cent, describing it as a “landmark second” that can take bilateral financial ties between the 2 nations to “new heights”.
In a publish on X, the Defence Minister highlighted the deal as a serious milestone in India-US relations, selling stronger hyperlinks and strategic collaboration.
He additionally congratulated Prime Minister Narendra Modi and US President Donald Trump on the settlement.
“A landmark second for India-US relations as a historic commerce deal has been finalised, bringing tariffs right down to a considerably decrease 18% and opening a brand new chapter of deeper and better financial cooperation. I congratulate Prime Minister Narendra Modi and US President Donald Trump on reaching this decisive settlement, which is able to considerably strengthen our strategic partnership and ship tangible advantages to each the international locations and their individuals. With this settlement, India-US financial ties are set to achieve new heights,” the Union Minister stated in a publish on X.
His comment comes after Trump, earlier on Monday, stated that the US and India “have agreed to a commerce deal” with Washington decreasing the reciprocal tariff from 25 per cent to 18 per cent “out of friendship and respect” for PM Modi.
In his Reality Social publish, Trump referred to his dialog with PM Modi earlier within the day, noting that the Prime Minister was considered one of his closest buddies and a strong, revered chief of India.
The US President additionally claimed that PM Modi had agreed to “cease shopping for Russian oil” and to purchase way more from the US.
He additional famous that India would cut back tariffs and non-tariff obstacles in opposition to the US.
“It was an Honor to talk with Prime Minister Modi, of India, this morning. He’s considered one of my biggest buddies and, a Highly effective and Revered Chief of his Nation. We spoke about many issues, together with Commerce, and ending the Battle with Russia and Ukraine. He agreed to cease shopping for Russian Oil, and to purchase way more from the USA and, probably, Venezuela. This can assist END THE WAR in Ukraine, which is going down proper now, with hundreds of individuals dying every week! Out of friendship and respect for Prime Minister Modi and, as per his request, efficient instantly, we agreed to a Commerce Deal between the USA and India, whereby the USA will cost a diminished Reciprocal Tariff, decreasing it from 25% to 18%. They are going to likewise transfer ahead to cut back their Tariffs and Non Tariff Obstacles in opposition to the USA, to ZERO,” Trump’s publish learn.
Following Trump’s publish, Prime Minister Narendra Modi, on X, stated it was great to talk along with his “pricey pal President Trump” and expressed delight that “Made in India merchandise will now have a diminished tariff of 18%”.
“Great to talk with my pricey pal President Trump right this moment. Delighted that Made in India merchandise will now have a diminished tariff of 18%. Large because of President Trump on behalf of the 1.4 billion individuals of India for this excellent announcement,” PM Modi wrote in a publish on X.
In the meantime, a White Home official confirmed to ANI that Washington may also drop the extra 25 per cent tariff on Indian imports imposed as a result of New Delhi’s buy of Russian oil, noting that India has to “stop, not simply scale back, Russian oil purchases.”
As per ANI, whether or not the tariffs on Indian imports could be lifted in alternate for decreasing Russian oil purchases, the official stated, “Sure, though the settlement is that India will stop, not simply scale back, Russian oil purchases.”