Indian Prime Minister Narendra Modi said he spoke by phone with U.S. President Donald Trump on Thursday and they “reviewed the good progress made in trade negotiations” and agreed to stay in close contact over the coming weeks.
Officials from the Indian Ministry of Commerce said after recent meetings with trade officials in Washington that another round of trade talks is expected soon in either country.
Trump had imposed 50 percent tariffs on most exports from India, among the highest rates for any U.S. trading partner.
This move affects Indian exports worth about $50 billion to the U.S., mainly harming labor-intensive sectors such as textiles, gemstones, jewelry, and seafood.
Trump doubled the tariffs on Indian goods from 25 percent due to New Delhi’s continued import of Russian oil.
Washington earlier said India’s purchase of Russian crude helped finance the war in Ukraine and that New Delhi also benefited. India rejected this accusation as double standards, pointing to U.S. and European trade ties with Russia.
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