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Trump speaking during the swearing-in ceremony of the new US Ambassador to India, Sergio Gore, in the Oval Office.
US President Donald Trump on Monday said India and the US are close to finalizing a new trade agreement. He said that America will gradually reduce the tariffs imposed on India.
This statement was made in the Oval Office during the swearing-in ceremony of the new US Ambassador to India, Sergio Gore. Trump said, ‘They don’t love me now, but they will love me again. We are getting a good deal.
On the question of reducing tariffs on India, Trump said that high tariffs were imposed on India because of buying Russian oil, but now India has greatly reduced the purchase of Russian oil. He said, ‘Yes, we will reduce the tariff.’
Trump said- I have great relations with Modi
Trump said, ‘India is one of the oldest civilizations in the world, the largest country in the world and has a population of more than 1.5 billion. Also, we have an excellent relationship with Prime Minister Modi and Sergio has further enhanced this.
Trump further said, ‘India is also the fastest growing sector, and it is an important economic and strategic security partner in the Indo-Pacific region. As Ambassador, Sergio will work to strengthen our countries’ bonds, promote investment in key American industries, increase American energy exports, and expand our security cooperation.’
Commerce Minister had said- Negotiations for agreement with America are going well
India’s Commerce Minister Piyush Goyal had said on November 5 that bilateral trade agreement negotiations between the two countries were going very well. However, he said that some sensitive issues are still pending, hence it is taking time.
The agreement, which started in February 2025, aims to increase trade between the two countries from $191 billion to $500 billion by 2030. Five rounds of talks have taken place since March.
The last round was held virtually on 23 October. Goyal had said that it is expected that the first phase agreement will be reached by the end of 2025. In September, the Indian team went to Washington under the leadership of Goyal. The American team also came to Delhi. Both sides have agreed to work expeditiously.
50% US tariff on India, penalty on buying oil from Russia
Trump has imposed a total of 50% tariff on India so far. There is a 25% reciprocal i.e. tit-for-tat tariff and a 25% penalty on purchasing oil from Russia.
The reciprocal tariff came into effect from August 7 and the penalty from August 27. America has imposed economic sanctions on India to put pressure on Russia.
Trump has many times claimed that Russia promotes war in Ukraine with the money received from India’s oil purchases.
Trump has imposed tariffs on most countries of the world.
Trump may come to India next year
Trump had said on Thursday that he may visit India next year. He said, ‘His talks with Prime Minister Modi are going very well and discussions on trade agreement between the two countries are progressing.’
While talking to the media in the Oval Office of the White House, Trump once again described PM Modi as his friend and a good person.
Trump said- We keep talking. They have significantly reduced the purchase of oil from Russia. PM Modi has invited me to come to India and I am thinking of going there.
Sergio sworn in as US Ambassador to India
Sergio was sworn in on Monday as the US Ambassador to India and Special Envoy to South and Central Asia. Trump said, ‘Sergio will handle this responsibility better. I want to congratulate Sergio.
The ceremony was attended by Vice President J.D. Vance, Secretary of State Marco Rubio, Treasury Secretary Scott Bessant, Attorney General Pam Bondi, U.S. Attorney for the District of Columbia Jeanine Pirro, Erica Kirk, and several members of the U.S. Senate.
After taking the oath of office, Ambassador Sergio thanked President Trump for entrusting him with responsibility for one of America’s most important foreign relations.
Gore said, ‘I look forward to further strengthening the relationship between our two countries. I look forward to doing a great job for you.
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