Donald Trump’s executive order on “reciprocal tariffs” on Thursday overshadowed Prime Minister Narendra Modi’s visit to the White House, with India being among the nations named in a “fact sheet” in US President’s ‘fair and reciprocal’ tariff plan.

On Thursday, Trumped signed the executive order on reciprocal tariffs that could take effect against trading partners of the US, including India, by April.

At a joint press conference in the White House, Trump said Modi agreed to begin talks to address the US trade deficit, while also pointing out that on tariffs, the US would charge what India charges.

‘Whatever you charge, we charge’

“Frankly, it no long matters to us what they charge. We’re just going to do it the easy way. We’re just going to say, whatever you charge, we charge,” Trump said at the press conference alongside the visiting Indian leader.

“The US average applied most favored nation (MFN) tariff on agricultural goods is 5%. But India’s average applied MFN tariff is 39%. India also charges a 100% tariff on US motorcycles, while we only charge a 2.4% tariff on Indian motorcycles,” the White House “fact sheet” released on Thursday said.

Trump and Modi addressed the press after their four-hour long bilateral meeting at the Oval Office in the White House.

Both leaders are believed to have discussed topics including trade, tariffs, nuclear energy, and illegal migration.

Modi is the fourth visiting head of state–after Israeli Prime Minister Benjamin Netanyahu, Japanese Prime Minister Shigeru Ishiba and Jordan King Abdullah II–to meet Trump following his inauguration on 20 January.

Back home in India, benchmark indices Sensex and Nifty declined for the eighth consecutive session on Friday as investors remained cautious about the implications of reciprocal US tariffs, despite Modi’s offer to discuss easing tariffs, buying more US oil and gas, combat aircraft, and concessions. The Nifty fell 0.44% to 22,929.25 on Friday, while the Sensex declined 0.26% to 75,939.21.

Meanwhile, Delhi has agreed to step up oil and gas imports from the US in a bid to reduce the trade deficit between the two countries and skirt Trump’s retaliatory tariffs.

India to import more US energy

“We purchased about $15 billion in US energy output,” foreign secretary Vikram Misri said at a media briefing in Washington. “There is a good chance that this figure will go up as much as $25 billion.”

Misri said it was “entirely possible increased energy purchases will contribute to impacting the deficit between India and US.”

A joint statement released after Modi’s meeting with Trump said the US would expand defense sales and co-production with India to strengthen interoperability and defense industrial cooperation.

The leaders announced plans to pursue this year new procurements and co-production arrangements for “Javelin” Anti-Tank Guided Missiles and “Stryker” Infantry Combat Vehicles in India.

“They also expect completion of procurement for six additional P-8I Maritime Patrol aircraft to enhance India’s maritime surveillance reach in the Indian Ocean Region following agreement on sale terms,” the joint statement said.

Modi and Trump also vowed to lift energy trade, “to establish the US as a leading supplier of crude oil and petroleum products and liquefied natural gas to India.”

India-US bilateral trade deal by year end

The leaders set a goal to double bilateral trade to $500 billion by 2030, with plans to negotiate a bilateral trade agreement by 2025 to increase market access and reduce barriers.

Investment collaborations will include significant commitments from Indian companies in the US, enhancing job creation and economic ties.

The US-India Energy Security Partnership will continue, focusing on stabilizing energy markets and increasing energy trade, particularly in oil and gas.

Technology and innovation partnerships will be deepened through initiatives like the US-India TRUST, focusing on critical technologies such as AI, semiconductors, and biotechnology.

26/11 accused Rana to be extradited

Finally, the leaders committed to enhancing cooperation in multinational settings to advance global peace and security, support the fight against terrorism, and strengthen economic and defense ties across the Indo-Pacific.”

In the joint press conference, Trump announced that the US would sell F-35 stealth fighter jets to India, stepping up military sales.

Discussions between Trump and Modi also covered counter-terrorism efforts, with the former reaffirming his commitment to extradite Tahawwur Rana, accused in the 2008 Mumbai attacks, to India.

Both Modi and Trump announced their commitment to fully realizing the US -India 123 Civil Nuclear Agreement by moving forward with plans to build US-designed nuclear reactors in India through large-scale localization and possible technology transfer.

Trump welcomed the recent budget announcement to amend the Atomic Energy Act and the Civil Liability for Nuclear Damage Act (CLNDA) for nuclear reactors.

The joint statement mentioned that this path forward will unlock plans to build large US-designed reactors and enable collaboration to develop, deploy, and scale up nuclear power generation.

Modi invites Trump to Quad summit

Modi has invited Trump to New Delhi for the Quadrilateral Security Dialogue (Quad) leaders’ Summit to be held in September, ahead of which the leaders will activate new Quad initiatives on shared airlift capacity to support civilian response to natural disasters and maritime patrols to improve interoperability.

Both leaders resolved to increase cooperation, enhance diplomatic consultations, and increase tangible collaboration with partners in the Middle East.

Highlighting the importance of investing in critical infrastructure and economic corridors to advance peace and security in the region, the leaders plan to convene partners from the India-Middle East-Europe Corridor and the I2U2 Group within the next six months to announce new initiatives in 2025.

During his visit, Modi also met US intelligence chief Tulsi Gabbard, national security advisor Michael Waltz, and tech billionaire and chief executive of Tesla and SpaceX Elon Musk.

Musk, accompanied by his girlfriend, nanny, and three-toddler sons when he met Modi, reportedly discussed Starlink’s plans to launch satellite broadband services in India and cooperation in space and technology plans.