USA and India to increase double -sided trade to $ 500 billion to 2030.

New Delhi and Washington will work on over two -sided bilateral trade up to $ 500 billion by 2030, said the Prime Minister of India Narendra Modi at a joint press conference with US President Donald Trump on Thursday.

Speaking at the end of the meeting of two leaders in Washington, Modi also said that “our teams will work at the end very, mutually favorable trade agreements.”

Trump confirmed the recent India movement to reduce the tariffs to the selected import and said that he would start talks about differences in trade and hopes to reach an agreement.

Notes came a few hours after signing Trump Presidential Memorandum outlining his plan to impose “Mutual tariffs” for foreign nations, including India.

Trump said that the US would simply download the same tariff rates that take India, while the commercial deficit with India could be dealt with by the sale of oil and gas.

India Simple Medium Tariff for countries with the best privileged status of 17%, compared to the US, which download 3.3%. The US enjoy the status of MFN with most of the main economies.

The total trade in goods in the USA with India is estimated at $ 129 billion in 2024according to the office of a US sales representative. India surplus from the USA, this Second largest trade partner, Last year he reached $ 45.7 billion.

The United States will increase military sales to India from this year and eventually provide the F-35 F-35 Asian ally, told Trump on a briefing to confront what he called “a threat to radical Islamic terrorism.” India are The world's largest defense equipment importer.

Modi said that India and the US will also cooperate on developing artificial intelligence and semiconductors, focusing on establishing strong strategic supply chains of minerals.

Raghuram Rajan, a finance professor at the University of Chicago Booth School of Business, said $ 500 billion in the amount of $ 500 billion could be achieved.Squawk Box asia. “

Rajan added that in addition to leaving Russia – a key defense supplier in India – towards the USA, India can also increase the purchase of liquid natural gas from American producers.

The Trump-Modi meeting had the threat of American tariffs that appeared large.

“We are now a mutual nation … We will have all fees in India, we charge them. A very fair way – said the US president on a press briefing.

The president said that mutual tariffs would not come into force immediately, because his administration is working on determining the appropriate levels of tariffs for each affected country.

Trump has already hit China, Canada and Mexico, as well as global tariffs for the import of steel and aluminum. Trump tariffs for Canada and Mexico are currently detained after both countries have committed to parting illegal drug trafficking on their limits from the USA

Despite the encouraging tones with Meeting, signs of friction remain in the US-India relationship, said Daniel Balazs, a research worker at S. Rajaratnam School of International Studies, such as an illegal immigration problem and close connection between India and Russia.

“In particular, the latter is unlikely to disappear in the near future and will probably remain a sore point between two sides,” he said.