India has raised tariffs on 28 items, including almond, pulses and walnut, exported from the US in retaliation to America’s withdrawal of preferential access for Indian products.Read | G-20 Summit: Iran, 5G, defence among top agendas for Modi-Trump meetThe US reimposed sanctions on Iran in November after pulling out of a 2015 nuclear accord between Tehran and six world powers. There is absolutely no time pressure". In terms of trade, in terms of manufacturing, we would be discussing 5G."PM @narendramodi and @POTUS held talks on the sidelines of the China Fuel pump components FactoryG20 Summit in Osaka.
Trump has also criticised India’s high import tariff on the iconic Harley Davidson motorcycles as "unacceptable" though acknowledging that his "good friend" Prime Minister Modi has reduced it from 100 per cent to 50 per cent.Osaka: Prime Minister Narendra Modi on Friday held talks with US President Donald Trump and discussed various bilateral and global issues including Iran, 5G communications networks, trade and defence ahead of the G-20 Summit.Modi thanked Trump for expressing his "love towards India" in a letter recently delivered by US Secretary of State Mike Pompeo. We will work together in many ways including military, we’ll be discussing trade today," he said.The Prime Minister said that he wants to discuss Iran, 5G, bilateral relations and defence ties with Trump.The two leaders met shortly after the Japan-America-India trilateral meeting during which Modi highlighted "the importance India attaches to" the grouping..The Modi-Trump meeting assumes significance as the US president, championing his ‘America First’ policy, has been a vocal critic of India for levying "tremendously high" duties on US products.Trump congratulated Modi on his election victory and said that the two countries would work together in many areas including military.On Iran, Trump said: "We have a lot of time."It was a big victory, you deserve it, you have done a great job. Both leaders discussed various bilateral and global issues," the Prime Minister’s Office said in a tweet. This is unacceptable and the Tariffs must be withdrawn!"This was Modi’s first meeting with Trump after the BJP’s landslide win in the parliamentary election.The Trump administration wants Prime Minister Modi to lower the trade barriers and embrace "fair and reciprocal" trade. To reduce Iran’s crude oil export to zero, the US ended on May 2 waivers that had allowed the top buyers of Iranian oil, including India, to continue their imports for six months. India, complying with the US sanctions, has ended all imports of oil from Iran.America, in March last year, imposed 25 per cent tariff on steel and a 10 per cent import duty on aluminium products.
There’s no rush, they can take their time.Before his arrival in Japan on Thursday, Trump tweeted, "I look forward to speaking with Prime Minister (Narendra) Modi about the fact that India, for years having put very high Tariffs against the United States, just recently increased the Tariffs even further.Last February, India slashed the customs duty on imported motorcycles like Harley-Davidson to 50 per cent after Trump called it "unfair" and threatened to increase the tariff on import of Indian bikes to the US. We have big things to announce. I congratulate you and I look forward to talks," Trump said.The government on June # 21 last year decided to impose these duties in retaliation to the US decision of significantly hiking customs duties on certain steel and aluminium products. I can say that with surety."We have become great friends and our countries have never been closer.