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In a significant development against the backdrop of growing global trade tensions and concerns about the impact of former President Donald Trump’s proposed reciprocal tariffs, United States Vice-President JD Vance announced that the US and India have finalized terms for a new trade agreement.
Speaking at an event in Jaipur on Tuesday—just a day after his meeting with Indian Prime Minister Narendra Modi—Vance outlined the broader goals of the Biden administration’s trade policy, emphasizing fairness, mutual respect, and shared strategic interests.
“Our administration seeks trade partners on the basis of fairness and shared national interests,” said Vance. “We want to build relationships with countries that respect their workers—not those that suppress wages to boost exports, but those that recognize the value of their labor.”
Vance underscored that the US is looking for allies willing to cooperate in building a more balanced global trade framework—one that is stable, open, and equitable. “We want partners committed to working with America to build things,” he said. “Not just to act as conduits for trade or hubs for shipping goods produced elsewhere.”
He also highlighted the unique moment in global politics and economics, suggesting that the time has come to forge a new system of trade. “We need to come together and build something completely new—a system that is not only balanced but also just and forward-looking.”
While acknowledging that each country may take a different approach, the Vice-President stressed the importance of shared objectives. With India, he noted, these goals span both economic collaboration and national security, forming the foundation of a strong and strategic partnership.
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