During Prime Minister Narendra Modi’s meeting with US President Donald Trump, both sides agreed to scale up the size of their bilateral trade to $500 billion by 2030. However, there is no free trade agreement yet and both sides will have to hold talks on the contours of the trade deal. The reciprocal tariffs by US has not yet been announced against any specific nations yet. “This step is basically seeing tariffs on US products versus products they import. We will see what to do when that happens,” the source cited above said. The source pointed out that New Delhi and Washington had discussed a mini trade deal based on the principle of Most-favoured Nation (MFN) However, this time the two sides are calling it a bilateral trade deal, instead of a miniTrade deal, the source said, adding that it is a much more fair agreement which India and the US intend to take forward. The deal is expected to be in place by 2030, according to the source.
During Prime Minister Narendra Modi’s meeting with US Presid….
