Modi to meet Trump amid tariff concerns

Prime Minister Narendra Modi’s visit to Washington comes as India delivers a series of quick concessions to President Trump aimed at warding off any potentially devastating trade war with the U.S.


U.S.-INDIA BILATERAL TRADE
$118.2bn
(2023/24)

$40.7 billion
$77.5 billion

In past, Trump branded India “tariff king” and “big abuser” of trade ties

U.S. is India’s largest trading partner. India had trade surplus of $36.8bn in 2024

TOP INDIAN EXPORTS
Engineering goods
Electronic goods
Gems and Jewellery
Pharmaceutical products
$17.6bn
$10.0bn
$9.9bn
$8.7bn

TOP U.S. IMPORTS
Mineral fuels and oils
Precious stones & pearls
Nuclear reactors & boilers
Electrical machinery
$12.9bn
$5.2bn
$3.7bn
$2.4bn

APPEASING TRUMP

TARIFF CUTS: Import duties on items such as motorcycles (worth $3m in U.S. exports in 2024), satellite ground installations, synthetic flavouring essences and fish hydrolysate for aquatic feed – slashed

MIGRATION: New Delhi has pledged to accept deportation of undocumented Indian migrants in U.S. as part of Trump’s immigration agenda.
U.S. has identified about 18,000 Indian nationals it believes entered illegally

Tariffs on motorcycles with engines above 1,600cc cut from 50% to 30% in move seen to facilitate entry of Harley-Davidsons into India

Sources: Reuters, India Express, Bloomberg, India Brand Equity Foundation (IBEF)
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