Washington/New Delhi, Feb 14 (Reporter) Terming tariffs imposed by India as “very high” and “very unfair”, US President Donald Trump said that in his talks with Prime Minister Narendra Modi the two sides have agreed to begin negotiations to address the disparities and to create a level playing field. In his address at the White House after talks with PM Modi, US President Trump said the two sides will deepen the economic ties and “bring greater fairness to and reciprocity to our trading relationship”. “As a signal of good faith, PM Modi recently announced reductions to India’s unfair, very strong tariffs that limit US access to the Indian markets; and it’s a big problem I must say. India imposes a 30-40 percent, to 60 and even 70 percent tariffs on so many of the goods, and in some cases more than that; and as an example 70 percent tariffs are imposed on US cars going into India., which makes it pretty much impossible to sell those cars,” he said. Trump also said the trade deficit with India is almost $100 billion, and that he and PM Modi “have agreed that we will begin negotiations to address the disparities that should have been taken care of in the past four years… We want a certain level playing field that we think we are entitled to, and in fairness he does too in fact, and we are going to work on it. We can make up the deficit with the sale of oil and gas, and LNG, which we have more than anybody in the world.” President Trump said that he and PM Modi have reached an agreement on energy “that will restore the US as a leading supplier of oil and gas”. Answering a question at the presser, the US President said India has been “very high on tariffs” and that they are now going in for reciprocity, which he announced at the White House earlier. “It is very hard to sell in India because of trade barriers and very high tariffs. Right now we are a reciprocal nation, we are going to charge what they are charging us; I think it is a very fair way. I was going to do that in my other term but we got hit with Covid and we had to focus on that… We had the strongest economy during the time …. Now we feel it is time to do it, after 45-50 years of abuse. “We are being reciprocal with India, whatever India charges we charge them,” the US President announced. On civil nuclear energy cooperation, President Trump said that “India is also reforming its laws to welcome US nuclear tech which is at the highest level. This will bring safe, clean energy to millions of Indians and tens of billions of dollars to the US civilian nuclear industry.” He said the two nations will collaborate majorly in the field of AI and “We are going to remain at the top of the AI in the world”. Referring to the India-Middle East-Europe Corridor, he said “We are building one of the greatest trade routes in history” that will involve overland and also underwater connectivity, through cables. “With today’s announcements the friendship between the US and India is the strongest it has ever been, and our relationship has been the best it has ever been between leaders of two countries,” the US President said. PM Modi, in his address, said that the two nations have set a target of more than doubling bilateral trade to 500 billion dollars by 2030. “Our teams will work on an early conclusion of a mutually beneficial Trade Agreement.” “We will strengthen the oil and gas trade to ensure India's energy security. Investment in energy infrastructure will also increase.” The Indo-US joint statement, referring to Trade and Investment, said: The two sides set up a new goal for bilateral trade – “Mission 500” – aiming to more than double total bilateral trade to $500 billion by 2030. The first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) would be ready by fall of 2025. They agreed to demonstrate mutual commitment to address bilateral trade barriers. “The United States welcomed India’s recent measures to lower tariffs on U.S. products of interest in the areas of bourbon, motorcycles, ICT products and metals, as well as measures to enhance market access for U.S. agricultural products, like alfalfa hay and duck meat, and medical devices. India also expressed appreciation for U.S. measures taken to enhance exports of Indian mangoes and pomegranates to the United States. Both sides also pledged to collaborate to enhance bilateral trade by increasing U.S. exports of industrial goods to India and Indian exports of labor-intensive manufactured products to the United States. The two sides will also work together to increase trade in agricultural goods.” The leaders “welcomed ongoing investments by Indian companies worth approximately $7.35 billion, such as those by Hindalco’s Novelis in finished aluminium goods at their state-of-the art facilities in Alabama and Kentucky; JSW in steel manufacturing operations at Texas and Ohio; Epsilon Advanced Materials in the manufacture of critical battery materials in North Carolina; and Jubilant Pharma in the manufacture of injectables in Washington. These investments support over 3,000 high-quality jobs for local families...////...