New York/Washington, February 12 US President Donald Trump has hailed the trade deal with India as "historic," and said America will dramatically increase its coal exports to the country and to others with which it has trade agreements.
"And under our leadership, we are becoming a massive energy exporter. In just the past few months, we have made historic trade deals with Japan, Korea, India, and others to dramatically increase our coal exports," Trump said on Wednesday during an event titled 'Champion of Coal'.
"We are now exporting coal all over the world, and the quality of our coal is supposed to be...the finest anywhere in the world," he said.
Last week, the US and India announced they had reached a framework for an interim trade agreement, under which New Delhi will eliminate or reduce tariffs on all American industrial goods, a wide range of food and agricultural products, as well as purchase USD 500 billion of US products over the next five years.
A joint statement issued by the two countries on Friday said they had reached a framework "regarding reciprocal and mutually beneficial trade."
It said that India "intends to purchase USD 500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next five years."
It added that the framework reaffirms the countries' commitment to the broader US-India Bilateral Trade Agreement (BTA) negotiations, launched by President Trump and Prime Minister Narendra Modi on February 13, 2025, which will include additional market access commitments and support more resilient supply chains.
