Trump Talks Of "Very Big Trade Deal" In Meeting With PM Modi: 10 Points

Prime Minister Narendra Modi said his talks with US President Donald Trump on the sidelines of the G20 summit in Japan's Osaka were "wide-ranging".

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G20 summit: Narendra Modi and Donald Trump discussed trade and other issues in Japan.

Osaka, Japan:  US President Donald Trump today told Prime Minister Narendra Modi that "we will certainly work together on trade", a day after upping the rhetoric on an issue that has emerged as a major source of friction between the two countries. "We have become great friends and our countries have never been closer," President Trump said as the two leaders met on the sidelines of the G20 meeting in Osaka. On Thursday, President Trump had struck an aggressive note, calling for the withdrawal of retaliatory tariffs imposed by India, saying it was "unacceptable". The two leaders today also discussed several bilateral and global issues including Iran, 5G communications network and defence ties.
Here are the 10 big updates on PM Modi's meeting with Donald Trump:
  1. "I think we're going to have some very big things to announce... Very big trade deal... We're doing some very big things with India in terms of trade, in terms of manufacturing," President Trump said at the start of the talks with PM Modi.
  2. Calling the talks with President Trump as "wide ranging", PM Modi, in a tweet, said, "We discussed ways to leverage the power of technology, improve defence and security ties as well as issues relating to trade. India stands committed to further deepen economic and cultural relations with USA."
  3. The Prime Minister's bilateral meet with President Trump is crucial as the two nations seek to resolve an ongoing trade dispute. New Delhi had slapped tariffs on 28 US products earlier this month in response to Washington withdrawing its long-standing trade concessions to India on June 1.
  4. The government today said that both leaders had agreed to try and resolve issues related to trade. "It was agreed that trade ministers of both countries would meet on an early date and would try to sort out these issues. Both US Trade Representative Robert Lighthizer and their Treasury Secretary Steven Mnuchin were in the room. Now, we expect an early meeting," Foreign Secretary Vijay Gokhale said at a press conference.
  5. Government sources have told news agency Reuters that India's tariffs are not as high as other developing countries. Commerce and Industry Minister Piyush Goyal has said that the government will not allow trade negotiations to overtake "issues of national interest".
  6. The two leaders also discussed Iran amid rising tensions between the Gulf nation and the United States. While India has stopped buying oil from Iran, one of its top suppliers, complying with US sanctions, New Delhi is worried about the security of its energy supplies.
  7. "On Iran, the primary focus was on how we ensure stability there, as instability affects us in many ways, not just in a matter of energy needs, but also in terms of our large diaspora in Gulf, 8 million Indians in the Gulf and economic interests. The two leaders agreed that they and officials will continue to remain in touch to ensure that the region remains stable; that is in the interest of us and the US," Mr Gokhale said.
  8. The two leaders also discussed Chinese telecoms equipment maker Huawei. "We actually sell Huawei many of its parts," he said. "So we're going to be discussing that and also how India fits in... And we'll be discussing Huawei." Washington has pressed its allies to shun Huawei in their fifth generation, or 5G, networks on security grounds.
  9. "On 5G, we were concerned to bring the focus on how we can leverage our market, our capabilities in design and technology of software, and our desire as to how to make this technology as part of Make in India. PM''s real focus was on Make in India and the potential that this technology has to achieve this goal," Foreign Secretary Vijay Gokhale said.
  10. The two leaders, though, skipped the contentious issue of India's $5 billion deal with Russia for the S-400 Triumf long-range missile amid threat of US sanctions. India has made it made it clear that it would be guided by "national interest" when it comes to purchasing defence systems from Russia.




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Highlights

1
"We will certainly work together on trade": Trump tells PM Modi
2
PM's bilateral meet with Trump crucial as they try to solve trade issues
3
They also discussed Iran amid rising tensions between Iran and US

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