Failing to maintain the morning session gains, Indian stock indices closed Friday's session and the week in red. This marked eight consecutive sessions of decline in the domestic equity market indices, data showed.
Addressing a press briefing after a meeting between PM Modi and Trump in the White House, the Foregin Secretary said, "We have indicated, and the two leaders have agreed today to start discussing trade and tariff-related issues."
US President Donald Trump reiterated his stance on tariff reciprocity in the joint press conference with Prime Minister Narendra Modi, emphasizing that the United States will match tariffs imposed by other countries, including India, to ensure fair trade.
He said that BRICS is dead and reiterated his threat to BRICS nations, saying he would impose a 100 per cent tariff on the bloc if they try to replace US dollar with any other currency.
"Canada has been very bad to us on trade. But now Canada is going to have to start paying up. Canada has been tough on the military because they have a very low military cost," Trump said.
An hour before his bilateral meeting with Prime Minister Narendra Modi, US President Donald Trump again commented on India's tariff structure, saying "they have the highest tariffs" and "it is a hard place to do business".
He spoke on geopolitical challenges, tariff threats, and possible trade wars and expressed confidence in the path forward for the India-Switzerland bilateral economic partnership with the conclusion of the India-EFTA Trade and Economic Partnership Agreement (TEPA)
Trump's announcement comes ahead of his meeting with Prime Minister Narendra Modi who reached the United States today on an official visit. The two leaders are set to meet in the White House tonight.
Indian stock markets opened flat on Thursday, reversing the selling trend witnessed earlier on Wednesday, as the markets are in a wait-and-watch mode on PM Modi's US visit.
Former US official, Mark Linscott, underscored that India and the US have "tremendous potential" adding that the two countries will conclude a "large trade deal" during Prime Minister Narendra Modi's visit to the US.