Vice President J.D. Vance announced the United States had made significant progress in trade negotiations with India. “Both of our governments are hard at work on a trade agreement built on shared priorities, like creating new jobs, building durable supply chains, and achieving prosperity for our workers,” Vance said. “In our meeting yesterday, Prime Minister Modi and I made very good progress on all of those points. And we are especially excited to formally announce that America and India have officially finalized the terms of reference for the trade negotiation,” he continued. WATCH: .@VP announces that "America and India have officially finalized the terms of reference for the trade negotiation" between the two countries. pic.twitter.com/Yg46UIPheh — Rapid Response 47 (@RapidResponse47) April 22, 2025 Fox News reports: Vice President JD Vance touted progress made toward a U.S.-India trade deal on Tuesday, saying a partnership between the Trump administration and Indian Prime Minister Narendra Modi would ensure a 21st century that’s “prosperous and peaceful.” Speaking in the northwestern Indian city of Jaipur, Vance also warned of “dire” consequences in the Indo-Pacific and a “dark time” for the world should the partnership between the U.S. and India fail. “Critics have attacked my president, President Trump, for starting a trade war in an effort to bring back the jobs of the past, but nothing could be further from the truth,” Vance said, referring to Trump’s aggressive tariff policies and commitment to revitalize U.S. manufacturing. “He seeks to rebalance global trade so that America, with friends like India, can build a future worth having for all of our people together.” President Donald Trump and Modi announced in February that the U.S. and India aim to double bilateral trade to $500 billion by the end of the decade. JUST IN: Vice President JD Vance says the US and India finalized terms for a trade deal. pic.twitter.com/OkCwwevreP — BRICS News (@BRICSinfo) April 22, 2025 “Pleased to welcome US @VP @JDVance and his family in New Delhi. We reviewed the fast-paced progress following my visit to the US and meeting with President Trump. We are committed to mutually beneficial cooperation, including in trade, technology, defence, energy and people-to-people exchanges. India-US Comprehensive Global Strategic Partnership will be a defining partnership of the 21st Century for a better future of our people and the world,” Indian Prime Minister Narendra Modi said. Pleased to welcome US @VP @JDVance and his family in New Delhi. We reviewed the fast-paced progress following my visit to the US and meeting with President Trump. We are committed to mutually beneficial cooperation, including in trade, technology, defence, energy and… pic.twitter.com/LRNmodIZLB — Narendra Modi (@narendramodi) April 21, 2025 “Today I met with Prime Minister @narendramodi of India. I look forward to strengthening our nation’s relationship with India, and thank him for his country’s warm welcome and hospitality,” Vance commented. Today I met with Prime Minister @narendramodi of India. I look forward to strengthening our nation's relationship with India, and thank him for his country's warm welcome and hospitality. pic.twitter.com/fOHTVX4dFH — Vice President JD Vance (@VP) April 21, 2025 Per CNBC: The two leaders also exchanged views on various regional and global issues of mutual interest, and called for dialogue and diplomacy. India was hit with a 26% “reciprocal” tariff on April 2, before the levies were suspended for 90 days by U.S. President Donald Trump on April 9, leaving a 10% baseline tariff. On Monday, U.S. Trade Representative Jamieson Greer said the USTR and India’s Ministry of Commerce and Industry have “finalized the terms of reference to lay down a roadmap for the negotiations on reciprocal trade.” He added, “there is a serious lack of reciprocity in the trade relationship with India,” but said “India’s constructive engagement so far has been welcomed and I look forward to creating new opportunities for workers, farmers, and entrepreneurs in both countries.” Back in February, Modi and Trump had agreed to more than double bilateral trade between New Delhi and Washington to $500 billion by 2030. U.S. total goods trade with India is estimated at $129 billion in 2024, according to the Office of the U.S. Trade Representative. India’s surplus with the United States, reached $45.7 billion last year.