U.S. and India set goal to double trade to $500 billion by 2030

U.S. President Donald Trump and Indian Prime Minister Narendra Modi announced plans to more than double bilateral trade to $500 billion by 2030. This goal was shared during a press conference following their meeting in Washington. Modi highlighted India's recent tariff reductions on U.S. imports and mentioned ongoing efforts to finalize a mutually beneficial trade agreement. The leaders also discussed collaboration on artificial intelligence, semiconductors, and supply chains for strategic minerals. Trump introduced a plan for "reciprocal tariffs," meaning the U.S. will match India's tariff rates. This approach aims to address trade disparities, particularly the U.S. trade deficit with India, which reached $45.7 billion last year.