Indian Prime Minister Narendra Modi is anticipated to go to the US in September for the United Nations Basic Meeting (UNGA) and to carry discussions with President Donald Trump on commerce and tariffs.
Modi’s UNGA Go to Targets Tariff Talks, Commerce Deal
Modi’s journey goes past attending the UNGA in New York, aiming additionally to resolve commerce disputes with Trump and search settlement on tariffs, probably paving the way in which for a commerce deal announcement between the 2 international locations, in accordance to The Indian Categorical.
New Delhi is looking for a talking slot for Prime Minister Modi on the UNGA on September 26 to allow bilateral talks with Trump and different international leaders, the report added.
The go to’s success hinges on two key developments: progress within the Russia-Ukraine battle and the Indo-U.S. commerce deal. India is carefully watching the upcoming August 15 assembly between Trump and Russian President Vladimir Putin.
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India-US Commerce Deal Caught Amid Tariff Tensions, Russia Battle
In commerce deal discussions, talks between Indian and U.S. representatives have been nearing completion, however Trump discovered the phrases unsatisfactory. Moreover, India faces mounting stress from the 50% U.S. tariffs—half attributed to its excessive import duties and half as a penalty for purchasing Russian oil.
Negotiators are actually revisiting the settlement, aiming to double bilateral commerce to $500 billion by 2030, as beforehand mentioned by Modi and Trump in February. Notably, Vice President J.D. Vance additionally visited India in April to finalize the framework of the commerce deal
Earlier this month, Modi, responded by affirming his dedication to guard the pursuits of Indian farmers and vowed to not compromise on their livelihoods towards Trump’s tariff threats.
Specialists Cut up On Influence Of Trump’s India Tariff Hike
Economists shared combined opinion on the complete state of affairs. Peter Schiff warned that Trump’s transfer to double tariffs on Indian imports may crash the greenback and damage U.S. shoppers.
Then again, ING’s Warren Patterson questioned India’s willingness to threat $87 billion in exports for simply $9 billion oil reductions. Capital Economics’ Shilan Shah mentioned the tariffs are massive sufficient to considerably impression India’s GDP.
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