During Prime Minister Narendra Modi’s visit to Washington last month, India and the U.S. pledged to more than double bilateral trade to USD 500 billion by 2030 and to negotiate the first phase of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) by the fall of 2025.In 2023, the total U.S.-India bilateral trade in goods and services reached USD 190.08 billion, comprising USD 123.89 billion in goods and USD 66.19 billion in services. That year, India’s merchandise exports to the U.S. totaled USD 83.77 billion, while imports stood at USD 40.12 billion, resulting in a trade surplus of USD 43.65 billion in favor of India.“We value our ongoing engagement with the government of India on trade and investment matters and look forward to continuing these discussions in a constructive, equitable, and forward-looking manner,” the US embassy spokesperson said.President Trump, who has referred to India as the “tariff king,” has repeatedly talked about imposing reciprocal tariffs on the country.“I have a very good relationship with India, but the only problem I have with India is that they are one of the highest tariffing nations in the world. I believe they are probably going to lower those tariffs substantially, but on April 2, we will be charging them the same tariffs they charge us,” Trump said in an interview with US-based Breitbart News last week.
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