Hours before the highly anticipated meeting between Prime Minister Narendra Modi and U.S. President Donald Trump, CNBC-TV18, citing a senior White House official, reported that India and the U.S. will sign a new defense framework today.
The channel further stated that discussions on new defense procurements from India have been positive and are expected to help reduce the trade deficit. Additionally, the meeting between Trump and Modi later today is expected to strengthen a fair bilateral trade partnership, which could be officially announced by the fall of 2025, according to the broadcaster, quoting a senior White House official.
PM Modi arrived in the United States earlier today for his first bilateral meeting with Trump since the latter was re-elected for a second term in November. Trump secured his victory on a hardline nationalist agenda, which included pledges to deport illegal immigrants and revitalize the struggling manufacturing sector.
As part of these efforts, the U.S. deported 104 Indians who had entered the country illegally, sending them back on a military plane. The deportees were reportedly shackled, sparking controversy in India.
In a characteristic post on social media, Trump wrote, “THREE GREAT WEEKS, PERHAPS THE BEST EVER, BUT TODAY IS THE BIG ONE: RECIPROCAL TARIFFS!!!” The mention of “reciprocal tariffs” echoed his statement on Wednesday, in which he committed to measures that could escalate trade tensions with other nations, including key allies.
Before his visit to the U.S., the Prime Minister highlighted the “collaboration” between himself and Trump during the latter’s first term (2017-2021) and expressed hope that their strong personal ties would further strengthen the India-U.S. partnership in key sectors such as technology, trade, and defense.
(Disclaimer: The above article is meant for informational purposes only, and sis based on a report by CNBC-TV18. FINOSTRY suggests its readers/audience to consult their financial advisors before making any money related decisions.)