‘Historic deal’: Donald Trump hails India-US commerce settlement

US President Donald Trump on Wednesday described the lately concluded settlement with India as a “historic commerce deal” and mentioned it might considerably increase American coal exports.Addressing a press briefing, Trump mentioned, “America is now the primary vitality producer on this planet… We’re turning into an enormous vitality exporter. In simply the previous few months, we have made historic commerce offers with Japan, Korea, India, and others to extend our coal exports dramatically… The standard of our coal is meant to be the best anyplace on this planet.”

His remarks got here days after Washington issued a truth sheet outlining the “path ahead” for the newly concluded commerce cope with India.The 2 international locations reached an interim commerce settlement after almost a 12 months of negotiations that started in February 2025. The settlement was introduced final week following a phone dialog between Prime Minister Narendra Modi and President Trump, throughout which each leaders finalised the framework for the interim pact.Beneath the settlement, India will profit from a discount in US duties to 18% from 50% on a spread of exports. These embrace textiles and clothes, leather-based and footwear, plastic and rubber items, natural chemical substances, house décor merchandise, artisanal objects and choose equipment classes.India and the US had held a number of rounds of talks in latest months after negotiations stalled when the Trump administration imposed 50% tariffs on imports from India. Of this, a 25% responsibility was launched in August, with Washington alleging that India was fueling Russia’s “battle machine” in Ukraine by means of its purchases.