Tue Apr 22 15:40:00 UTC 2025: ## India and US Hail Progress in Trade Talks Amidst Ongoing Negotiations

**NEW DELHI** – Indian Prime Minister Narendra Modi and U.S. Vice President JD Vance met Monday in New Delhi, expressing satisfaction with the progress of ongoing bilateral trade negotiations. While Vance was in India primarily for a personal visit, the meeting highlighted the two nations’ commitment to strengthening economic ties.

A statement from Modi’s office revealed that both leaders welcomed the “significant progress” in talks for a mutually beneficial trade agreement. They also positively assessed cooperation in energy, defense, and strategic technologies, while exchanging views on global issues and emphasizing the importance of dialogue and diplomacy.

The positive assessment follows a period of trade tensions. India faced a 26% reciprocal tariff from the U.S. earlier this year, which was later suspended. U.S. Trade Representative Jamieson Greer confirmed that the U.S. and India have finalized terms of reference for future negotiations, acknowledging a historical lack of reciprocity but expressing optimism about future opportunities for both nations’ workers and businesses.

This progress builds upon a 2020 agreement between Modi and then-President Trump to more than double bilateral trade to $500 billion by 2030. Current U.S. goods trade with India is estimated at $129 billion, with a significant trade surplus for India. The meeting underscores a renewed effort to address these imbalances and forge a stronger trade partnership.

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