Modi, Trump agree to ease trade niggles

Osaka: Prime Minister Narendra Modi and President Donald Trump Friday "aired" their concerns over the bilateral trade disputes and agreed for an early meeting of their commerce ministers to sort out the issues, a day after the US leader demanded the withdrawal of the "very high" tariffs levied by India on American goods.

Though trade is an important part of the booming bilateral relationship, a row over market access and tariffs have escalated in recent months, leading to fears of a protracted dispute.

On Thursday, President Trump said that India's "very high" tariffs on US goods are "unacceptable" and must be withdrawn.

"The talks with @POTUS were wide-ranging. We discussed ways to leverage the power of technology, improve defence and security ties as well as issues relating to trade," Prime Minister Modi tweeted after his meeting with President Trump.

"India stands committed to further deepen economic and cultural relations with the USA," he said.

Briefing reporters on the Modi-Trump meeting, Foreign Secretary Vijay Gokhale said the issue of trade was discussed by the two leaders.

"There was a discussion on trade, both sides aired their concerns, both sides spoke about the interest of the other side and what was agreed was that the trade ministers of both countries would meet at an early date and would try and sort out these issues," he said.

"The Prime Minister did mention in particular that we had taken some action after the Generalized System of Preferences (GSP) was revoked, that was now something that already had happened and now we should now look forward and we should see how we can resolve some of these issues," Gokhale said.

President Trump welcomed this idea, he said, noting that both US Trade Representative Robert Lighthizer and the Treasury Secretary Steven Mnuchin were in the room when the two top leaders met.

Foreign Secretary Vijay Gokhale said that India purchasing S-400 missile defence system from Russia did not come up during the talks between the two leaders.

On Iran, the foreign secretary said Modi outlined India's energy concerns as well as worries over peace and stability in the region.

On the issue of 5G telecommunications technology, Modi and Trump discussed the technical and business opportunities that this new area provides for cooperation between India and the US.