Trump hails PM Modi as ‘a good friend of mine’, confident in Indo-US trade deal

US President Donald Trump said he was convinced on Thursday June 4 that Washington and New Delhi would manage to conclude a trade agreement, while describing Prime Minister Narendra Modi as a close friend.

Speaking to reporters in the Oval Office, Trump said the two countries share strong relations despite long-standing trade disputes.

“We will reach an agreement because I like your prime minister very much; he is a good friend of mine and we get along well. We have a good relationship.”

The remarks come as India and the United States intensify negotiations on an interim bilateral trade agreement aimed at expanding economic cooperation and addressing market access concerns.

Trump renews criticism of India’s past tariff policies

While expressing confidence in a future deal, Trump reiterated his long-standing criticism of India’s tariff regime.

The US president argued that American companies have faced significant obstacles in the Indian market for years.

“For years, India has taken advantage of the United States.”

“They imposed huge tariffs on our companies, and we didn’t charge them anything.”

Trump claimed that the trade balance had now shifted in Washington’s favor.

“Now it’s exactly the opposite and we’re making a lot of money from India.”

His comments reflect ongoing U.S. concerns over tariffs, market access restrictions and regulatory barriers facing U.S. companies operating in India.

Four-day trade talks conclude in New Delhi

Trump’s remarks followed the conclusion of a four-day visit to India by officials from the Office of the United States Trade Representative.

The latest round of negotiations, held June 1-4, focused on advancing discussions toward an interim trade deal.

According to the Indian Ministry of Commerce, both sides approached the negotiations constructively.

The ministry said the negotiations were conducted in a spirit of cooperation and pragmatism, with both countries reaffirming their commitment to reaching a mutually beneficial agreement.

Key questions on the negotiating table

Trade officials discussed a wide range of issues during the latest round of negotiations.

Among the main areas under discussion were:

-Trade facilitation measures

-Cooperation on economic security

Both governments are seeking to strengthen bilateral trade ties while addressing long-standing concerns raised by businesses and policymakers.

US flags India in forced labor review

The trade talks are taking place against the backdrop of a recent U.S. review of global supply chains.

Washington this week singled out 60 economies, including India, for what it said were insufficient efforts to prevent imports linked to forced labor.

India made the list alongside countries such as China, Japan, Saudi Arabia, the United Kingdom and the United Arab Emirates.

The designation could potentially lead to future trade action if concerns remain unresolved.

Russian oil imports still part of broader trade discussions

Another sensitive issue influencing India-US economic relations is India’s purchase of Russian crude oil.

The discussions coincide with the United States’ review of a waiver that currently allows several countries, including India, to continue importing Russian oil.

U.S. Secretary of State Marco Rubio told Congress the exemption was always intended to be temporary.

“We would like to end it as soon as possible because the underlying policy of this country has been to sanction its oil.”

“These are time-limited exemptions, intended to further open up global supply.”

The exemption, first introduced in March and extended twice, is set to expire on June 17.

Rubio said any decision on a further extension would be made by the U.S. Treasury Department.

Russian oil purchases linked to broader geopolitical tensions

The exemption was originally introduced to ease disruptions to global energy supplies caused by conflict in West Asia and instability around the Strait of Hormuz.

India increased its purchases of Russian crude under the waiver after energy supplies to parts of the Gulf region were affected.

Russian oil imports have also emerged as a recurring discussion point in trade negotiations between Washington and New Delhi.

Earlier this year, Trump imposed additional 25% tariffs on some Indian imports, arguing that purchases of Russian crude helped finance Moscow’s military operations in Ukraine.

The tariffs were later withdrawn after India pledged to suspend imports of Russian oil, according to a White House fact sheet.