Trump announces India Energy deal after Modi talks

US President Trump has announced an agreement with Indian Prime Minister Narendra Modi for Delhi to import more US oil and gas to reduce trade deficit between the two countries.

“They are going to shop a lot of our oil and gas. They need it. And we have it,” Trump said in a joint news briefing in Washington.

Modi said that “to ensure India’s energy security, we will focus on trade in oil and gas”, also promises to invest more in nuclear power.

According to his two-day visit, Trump ordered that American business partners should face mutual tariff-tight-for-tat import taxes on American exports to match the same duties already imposed by those countries.

Trump and Modi have developed a personal synergy over the years, despite the friction on business.

“We have a wonderful relationship,” Trump said he welcomed his visitor in the American capital on Thursday.

He also said that the US increased the sale of military hardware in India with millions of dollars, eventually supplied Delhi with F -35 fighter jet.

The immigration agenda was more on the agenda, asking India to withdraw thousands of unspent migrants from India.

Earlier, Modi said that he had also discussed space, technology and innovation at a meeting with Trump Elli Elon Musk.

Modi said: “I strongly believe Trump that we will work with the speed we did in our first term.”

Shortly before his bilateral, Trump ordered his advisors to calculate wide new tariffs on American business partners worldwide, warning that they might be effective by 1 April.

Trump told reporters that “our colleagues are worse than our enemies”, when it comes to importing taxes.

The Republican President said before meeting Modi, “We had a very unfair system.” “Everyone took advantage of the United States.”

The White House also issued a news release, in which a trade shot shot in the bows of India and other countries.

The document states that the average American tariff on agricultural commodities was 5% for countries for which Washington gave most of the favorite nation (MFN) status.

The White House Fact Sheet said, “But India’s average applied MFN tariff is 39%.”

“India also charges 100% tariff on American motorcycles, while we only charge 2.4% tariff on Indian motorcycles.”

On Thursday, Trump acknowledged the risks of his tariff policy, as economists warned that such imports could increase consumer prices.

In the Oval Office, he said, “Prices can go somewhat, to some extent, but the prices will also be reduced.”

But he argued that the policy would promote American manufacturing and the country would “flood from jobs”.

Trump has already placed a 10% additional tariff on imports from China, with a fatal opioid, citing the production of Phantanelle which has stopped a US overdose epidemic.

He has also read Tariffs on Canada and Mexico, the two largest trading partners in the US, which may be effective in March after being suspended for 30 days.

On Monday, he removed the discount from his 2018 steel and aluminum tariffs.