Trump-Modi meet: A warm hug was followed by a firm handshake as PM Modi entered the White House, but the chill was palpable following the US President’s announcement of sweeping reciprocal tariffs.
Benchmark equity indices BSE Sensex and Nifty50 were trading lower on Friday amid a broad-based selling in stock markets today. Markets are nervous about US President Donald Trump’s proposed plan to impose country-specific tariffs on imports from trading partners.
Biznama Desk
The much-talked about meeting between Prime Minister Narendra Modi and US president Donald Trump was politically very impressive as a warm hug followed by a firm handshake as PM Modi entered the White House, but the chill was palpable following the US President’s announcement of sweeping reciprocal tariffs.
From the moment the Prime Minister landed in the United States, everything seemed fluid. At Blair House, where PM Modi stayed, the US flag was replaced with the tricolour in a rare gesture for a visiting foreign leader. Several key meetings with top Trump administration officials were also lined up, from tech titan Elon Musk to US National Security Adviser Michael Waltz.
In fact, Trump’s gift to Modi also had a personal touch. The President gifted the Prime Minister a book titled ‘Our Journey Together’, which features snapshots of the moments from their rallies during Trump’s first presidential term.
The mutual admiration between the two leaders spilled on to the joint press briefing as well. The Prime Minister borrowed Trump’s “MAGA” (Make America Great Again) slogan to give his own twist to it.
However all of that was overshadowed by Trump’s decision, on the same day, to review reciprocal tariffs of all U.S. trading partners.
Trump announced agreements on energy, space and defense – including, notably, India’s possible entry into the F-35 stealth fighter jet program, which is currently limited to an elite group of close allies.
He also raked up the topic at the joint press briefing. With PM Modi standing by his side, an unruffled Trump said in his own bellicose style, “Whatever India charges, we charge them. So, frankly, it no longer matters to us that much what they charge.”
The move is likely to jack up the prices of textiles, pharmaceutical products, and agricultural exports, with the US being India’s largest export destination. The US President underscored the need for a “certain level-playing field”.
“Today, the US trade deficit with India is almost USD 100 billion, and Prime Minister Modi and I have agreed that we will be negotiating to address the long-running disparities,” Trump said at the briefing.
“The U.S.-India compact for the 21st century is a historic initiative that will deepen every aspect of our partnership and our friendship,” Trump said, standing beside Prime Minister Narendra Modi after a full afternoon of meetings at the White House. “Starting this year, we will be increasing military sales to India by many billions of dollars. We’re also paving the way ultimately to provide India with the F-35 stealth fighters.”
Modi joked that he had been inspired by Trump to mint a new slogan based on Trump’s famous “Make America Great Again” – “Make India Great Again.” He stressed cooperation in energy, especially on small modular nuclear reactors, and on defense contracts.
“When America and India work together, that is when MAGA plus MIGA becomes MEGA – it’s a mega partnership for prosperity,” he said, in Hindi.
Modi-Trump meeting: MAGA + MIGA = ‘MEGA’
During a joint briefing, PM Modi introduced the idea of ‘Make India Great Again’ (MIGA), inspired by Trump’s well-known ‘Make America Great Again’ (MAGA) slogan.
He elaborated on the concept, stating, “The people of America are well aware of President Trump’s motto ‘MAGA – Make America Great Again.’ The people of India too are focusing on heritage and development as they move forward at a fast pace and with a firm resolve towards the goal of Viksit Bharat 2047. In the language of America, it’s Make India Great Again – MIGA. When America and India work together, this MAGA plus MIGA becomes a ‘MEGA partnership for prosperity’ and it is this mega spirit that gives new scale and scope to our objectives.”
Modi-Trump meeting: Proposed trade agreements
As discussions progressed, Trump revealed plans for upcoming trade agreements between the two countries. “We are going to work with India also. We have separate big trade deals to announce in the very near future. We are going to make some wonderful trade deals for India and for the US,” he stated.
In his remarks, PM Modi congratulated Trump on securing a second term and reflected on the progress made in India-US relations during Trump’s tenure. “I firmly believe that in your second term, we will work with more speed. President Trump always keeps the national interest of the US supreme and like him, I also keep the national interest of India at the top of everything else,” PM Modi said.