'America, India have finalized trade deal terms': Vance in Jaipur
What's the story
United States Vice President JD Vance has announced the finalization of a trade deal between the US and India.
His announcement came at a function in Jaipur, after meeting Prime Minister Narendra Modi.
"America and India have officially finalized the terms of reference for the trade negotiations," he added, offering an update on the ongoing trade talks between the two nations after the 26% reciprocal tariffs by US President Donald Trump.
Trade philosophy
US seeks fair trade partnerships, says Vance
Speaking at an event in Jaipur, Vance highlighted the dedication of the US administration to pursue trade partners on the basis of fairness and common national interests.
He said that he wished to build relationships with foreign partners who treat their workers with respect and don't hold wages down in order to increase exports.
"We want partners that are committed to working with America to build things," he added.
Future outlook
Vance's vision for global trade
"And, finally, we want to partner with people and countries who recognize the historic nature of the moment we are in. Of the need to come together and build something completely new, a system of global trade that is balanced, one that is open and one that is stable and fair," he added.
Vance also praised Modi as a "tough negotiator," adding it is precisely his tenacity that earned him respect in Washington.
Modi
Vance is on a four-day visit to India
"Modi is a tough negotiator, and that's why we respect him. He stands strong for India's interests — and we appreciate that," Vance said.
Vance is on a four-day visit to India.
His visit comes at a time when India is scrambling to reach an early trade agreement with the US before the 90-day respite on tariffs declared by the Trump administration ends.