India and US Trade Deal is Historic, Says Donald Trump

New Delhi: The India-US trade deal has become a topic of discussion worldwide. Some are calling it a failure of the Indian government, while others are calling it a correct step. Meanwhile, US President Donald Trump has also made significant remarks regarding the trade agreement with India.

Calling the trade deal historic, he said that the US will increase coal exports to this country from other countries with which it has agreements. Trump also made a surprising statement during an event titled “Champions of Coal.” You can learn more about his comments regarding the trade deal with India in detail below.

What Donald Trump Said on the Trade Deal

US President Donald Trump said on Wednesday during an event titled “Champions of Coal” regarding the trade deal with India, “And under our leadership, we are becoming a major energy exporter.” He added that in just the past few months, we have signed historic trade agreements with Japan, Korea, India, and others to increase our coal exports.

He said, “We are now exporting coal worldwide, and the quality of our coal is considered the best in the world.”Last week, the US and India announced that they had reached a framework for an interim trade agreement, under which New Delhi would eliminate or reduce tariffs on a wide range of US industrial goods, food, and agricultural products, and purchase US$500 billion worth of US products over the next five years. A joint statement on Friday stated that they had agreed on a framework for mutually beneficial trade.

India to Make $500 Billion in Purchases.

According to the joint statement, India has expressed its intention to purchase US$500 billion worth of US energy products, aircraft and aircraft components, precious metals, technology products, and coking coal over the next five years. It stated that the framework reaffirms both countries’ commitment to the comprehensive US-India Bilateral Trade Agreement (BTA) negotiations.