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INDIA: Modi & Trump Hold First Call Since Inauguration

INDIA
IndiaUSEM BulletHomepagemarkets-real-timeAPACPolitical RiskPolitical Risk BulletBulletEmerging Market NewsNorth America

PM Narendra Modi has confirmed that he has held a phone call with US President Donald Trump for the first time since the latter returned to office a week ago. Modi posts on X: "We are committed to a mutually beneficial and trusted partnership. We will work together for the welfare of our people and towards global peace, prosperity, and security."

  • Recent reports suggest the Indian gov't is contemplating how to avoid the imposition of tariffs on exports to the US that could be forthcoming from the White House due to the USD35.3bn trade surplus India operates with the US. BBG: "Among the options discussed, the government could buy more whiskey, steel and oil from the US, [...]. It could also reduce some import tariffs, with officials drawing up a list of likely products, such as bourbon whiskey and farm goods like pecan nuts [...] One of the proposals being considered is to reduce duties on goods imported from US states that are politically important for the Republican party, one of the people said. The plans under discussion are part of India’s larger strategy to avoid any confrontation with Trump, and also benefit from any potential US-China trade war."


 

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PM Narendra Modi has confirmed that he has held a phone call with US President Donald Trump for the first time since the latter returned to office a week ago. Modi posts on X: "We are committed to a mutually beneficial and trusted partnership. We will work together for the welfare of our people and towards global peace, prosperity, and security."

  • Recent reports suggest the Indian gov't is contemplating how to avoid the imposition of tariffs on exports to the US that could be forthcoming from the White House due to the USD35.3bn trade surplus India operates with the US. BBG: "Among the options discussed, the government could buy more whiskey, steel and oil from the US, [...]. It could also reduce some import tariffs, with officials drawing up a list of likely products, such as bourbon whiskey and farm goods like pecan nuts [...] One of the proposals being considered is to reduce duties on goods imported from US states that are politically important for the Republican party, one of the people said. The plans under discussion are part of India’s larger strategy to avoid any confrontation with Trump, and also benefit from any potential US-China trade war."