Tue Apr 22 11:14:00 UTC 2025: ## US and India Finalize Terms for Major Trade Deal, Announces Vice President Vance
**Jaipur, India** – Amidst concerns over the impact of potential reciprocal tariffs, US Vice President JD Vance announced Tuesday that the United States and India have finalized the terms of reference for a significant bilateral trade agreement. Speaking at an event in Jaipur following a meeting with Prime Minister Narendra Modi, Vance emphasized the shared goals of economic prosperity and national security driving the negotiations.
Vance stated that the agreement aims to more than double bilateral trade between the two nations to $500 billion by the end of the decade, a target initially set by President Trump and PM Modi in February. He highlighted the deal’s focus on creating jobs, building resilient supply chains, and ensuring prosperity for workers in both countries.
The finalized terms of reference, according to Vance, provide a roadmap for a comprehensive trade agreement. He stressed the importance of fairness and mutual respect in the relationship, emphasizing a desire for a balanced, open, stable, and fair global trade system. While acknowledging differences in approach, Vance highlighted the shared vision and strong friendship between the two nations.
The announcement is expected to bring relief to Indian exporters and positively impact the stock market, which had previously reacted negatively to the threat of US tariffs. The Indian government’s commitment to a measured approach to trade negotiations is further reinforced by Vance’s statement. The finalized terms mark a crucial step towards a final agreement and signify a strengthening of US-India economic ties.
First Piper 