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The Trump administration announced on Tuesday that it had made “significant progress” on finalizing the contours of a roadmap for further discussions and negotiations on Vice President JD Vance’s visit to India.
According to a report by Bloomberg, increased market access and a reduction in tariffs and non-tariff barriers are among the goals for the trade deal negotiations with India.
During the bilateral visit to India, Vance and his family met with Prime Minister Narendra Modi.
This visit comes after the U.S. announced reciprocal tariffs on 185 countries and territories – the Trump administration has since paused these levies for 90 days.
Tariffs on India were initially set at 26%, according to the announcement. Despite the overtures by the Modi administration to its counterpart in the U.S., President Trump has criticized India’s tariff and non-tariff barriers.
Vance hailed the progress made by the two sides in a speech during his four-day visit to the country, terming it “very good.”
He also praised PM Modi, calling him a “serious leader” but also said he is a “very tough negotiator” who “drives a hard bargain.”
“America and India have officially finalised the terms of reference for the trade negotiation,” he said.
Vance confirmed that the U.S. and India will have the first tranche of the bilateral trade deal ready by autumn.
He also appreciated India’s decision to allow imports of small modular reactors from the U.S., saying “American energy” can help India achieve its nuclear power production targets.
“I really believe that the future of the 21st century is going to be determined by the strength of the United States-India partnership,” Vance said.
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