U.S., India eye trade reset as Trump plans talks with Modi

U.S. President Trump says trade talks with India are continuing, hinting at a potential deal after weeks of diplomatic friction.

Transcript

00:00U.S. President Donald Trump says negotiations with India on trade barriers are continuing,

00:05signalling a potential deal after weeks of diplomatic friction.

00:10He adds that he plans to speak with Prime Minister Nandera Modi in the coming weeks

00:14and expresses optimism that a trade deal could be finalised.

00:21Modi struck a note of optimism, calling the United States and India close friends and natural partners.

00:27He said both governments are working to conclude negotiations quickly and looks forward to speaking with Trump.

00:33The optimism follows months of strained talks.

00:37Last week, Trump revealed India had offered to cut tariffs on U.S. goods to zero,

00:41but he said the offer came too late.

00:44Trump had promised for months that a deal was close,

00:46yet earlier he doubled down on tariffs on Indian imports to 50% over Russian oil purchases.

00:52Meanwhile, India's chief economic advisor warned that the tariffs would reduce GDP growth by half a percentage point.