US India Trade Deal & Rubio Revamps State Dept | 4.23.25
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What progress is being made on the US-India trade deal?
The White House is making early progress on trade deals with India, hoping to ease economic tensions caused by Trump's tariffs.
Both of our governments are hard at work on a trade agreement built on shared priorities.
How are Fortune 500 CEOs and investors reacting?
I'm Daily Wire Editor-in-Chief John Bickley with Georgia Howe. It's Wednesday, April 23rd, and this is Morning Wire. Marco Rubio announces a major overhaul of the State Department cutting staff and offices.
Over the past 15 years, the department's footprint has had unprecedented growth and costs have soared. But far from seeing a return to investment, taxpayers have seen less effective and less efficient diplomacy.
And tech stocks rebound and egg prices drop. What's the latest on the U.S. economy?
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The U.S. and India are reportedly closing in on a trade deal. Meanwhile, President Trump met with top CEOs to assuage their trade war concerns.
Who is Tim Pearce and what does he say about Trump's trade negotiations?
Daily Wire reporter Tim Pearce is here to talk about the Trump administration's latest moves on trade. Hey, Tim. So potentially significant meeting in India. Let's start there. When can we expect a trade deal with India?
Well, that's still up in the air, hopefully for not too much longer since President Trump only paused tariffs for 90 days. Vice President Vance represented the administration in India. Here's some of what he said on Tuesday.
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. I think this is a vital step toward realizing President Trump's and Prime Minister Modi's vision because it sets a roadmap toward a final deal between our nations. I believe there is much that America and India can accomplish together.
Vance was in India for four days and met with top government officials, including Prime Minister Modi. India is a big trading partner with the United States. Last year, trade between the two countries was nearly $130 billion. Since trade deficits are what Trump cares about, that's also big. US imports from India were bigger than exports by about $45 billion last year.
What are the implications of tariffs between the US and India?
Under Trump's new tariff regime, India is under a flat 10% tariff right now with carve-outs for tech products such as iPhones. But if Trump and Modi don't strike a trade deal within the next couple of months, that tariff rate could jump up to 26%.
All right, so a major spike looming there, but some positive signs with India. Now, there are dozens of other countries interested in striking new trade deals with the White House. What about these other countries?
Yeah, India is obviously a big player here. So yesterday's announcement was important for the White House, but there has been progress with others as well. White House Press Secretary Caroline Leavitt said during the White House press conference yesterday that the Trump administration is moving forward trade negotiations with nearly 20 countries.
Well, I spoke to our entire trade team this morning. There is a lot of progress being made. We now have 18 proposals on paper that have been brought to the trade team. Again, these are proposals on paper that countries have proposed to the Trump administration and to our government. You have Secretary Besant, Secretary Luttnick, Ambassador Greer, NEC Director Hassett and Peter Navarro, the entire trade team meeting with 34 countries this week alone. We are moving at Trump speed to ensure these deals are made on behalf of the American worker and the American people.
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Chapters
7 chapters
1
What progress is being made on the US-India trade deal?
0:03–1:47
2
Who is Tim Pearce and what does he say about Trump's trade negotiations?
1:47–3:02
3
What are the implications of tariffs between the US and India?
3:02–5:27
4
How is the Trump administration addressing concerns from Fortune 500 CEOs about trade?
5:27–6:50
5
What impact do new trade negotiations have on the US stock market?
6:50–9:19
6
What changes is Marco Rubio proposing for the State Department?
9:19–10:28
7
How does Megan Basham describe Rubio's overhaul plan for the State Department?
10:28–14:04
Speakers
9 identifiedMore from Morning Wire
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