Trump, Modi to speak on trade in coming weeks

• Trump hopes for successful US-India trade deal.
• Modi calls US and India close friends, partners.
• Trump earlier imposed 50% tariffs on Indian goods.

US President Donald Trump has said that his administration is continuing negotiations to address trade barriers with India and that he would talk to Prime Minister Narendra Modi, raising hopes of a deal after weeks of discord.

Trump, in a marked shift of tone, said he looked forward to speaking to Modi in the "upcoming weeks" and expressed optimism that they could finalise a trade deal.

"I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries," he said in a post on social media.

Modi reciprocated the optimism in a social media post on Wednesday, saying Washington and New Delhi "are close friends and natural partners."

He said teams from both countries are working to conclude the trade discussions at the earliest.

"I am also looking forward to speaking with President Trump. We will work together to secure a brighter, more prosperous future for both our people," Modi said.

Trump last week said India had offered to reduce its tariffs on US goods to zero, adding that the proposal was late and the South Asian country should have lowered its duties years ago.

The US president's more upbeat message came after months of roller-coaster talks that have strained US-India ties.

India's chief economic adviser this week warned that Trump's 50% tariffs imposed on Indian exports to the US could shave half a percentage point off India's gross domestic product this year.

Trump had promised for months that the two sides were close to clinching a trade deal, only to double new tariffs on Indian imports to 50%, sparking questions about the future of the US-India relationship, which had strengthened in recent years, including during Trump's first term.

Trump imposed the higher tariffs on India after New Delhi refused to stop buying Russian oil in defiance of his efforts to end Moscow's war in Ukraine.

The Financial Times reported on Tuesday that Trump was pressing the European Union to impose 100% duties on imports from India and China.

US-India two-way goods trade totalled $129 billion in 2024, with a $45.8 billion US trade deficit, according to US Census Bureau data.