US Hosts Critical Minerals Summit as India-US Trade Deal Boosts Ties

According to the US State Department, the three-day meeting will focus on bolstering strategic supply lines for minerals essential to technological innovation, economic competitiveness and national security.

"This historic gathering will create momentum for collaboration to secure these critical components vital to technological innovation, economic strength and national security," the department said in a release, adding that the ministerial aims to enhance international coordination on resilient supply chains.

The ministerial comes amid intensified India-US engagement across trade, energy and strategic sectors.

In a parallel development, US President Donald Trump announced a trade deal with India on Monday following months of tariff-related tensions, after Washington imposed 50 per cent duties on Indian goods in August 2025, with half of that linked to India's crude oil purchases from Russia.

Confirming the agreement, PM Narendra Modi posted on X, "Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement. When two large economies and the world's largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation. President Trump's leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace. I look forward to working closely with him to take our partnership to unprecedented heights."

Trump, in his Truth Social post, said, "It was an Honor to speak with Prime Minister Modi, of India, this morning. He is one of my greatest friends and, a Powerful and Respected Leader of his Country. We spoke about many things, including Trade, and ending the War with Russia and Ukraine. He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela. This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!"

Detailing the agreement, Trump added, "Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25% to 18%. They will likewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO. The Prime Minister also committed to 'BUY AMERICAN,' at a much higher level, in addition to over $500 BILLION DOLLARS of U.S. Energy, Technology, Agricultural, Coal, and many other products. Our amazing relationship with India will be even stronger going forward. Prime Minister Modi and I are two people that GET THINGS DONE, something that cannot be said for most. Thank you for your attention to this matter!"

Against this backdrop, External Affairs Minister S Jaishankar is visiting the United States from February 2-4 to participate in the Critical Minerals Ministerial, where discussions will centre on supply chain resilience, clean energy transitions and strategic cooperation in critical minerals.

During the visit, Jaishankar is also scheduled to hold meetings with senior members of the US administration.

Ahead of the ministerial, the US State Department had noted that partners from across the globe would be brought together to strengthen cooperation on critical mineral supply chains, describing such collaboration as vital to America's economic and national security, technological leadership and energy transition.

Parallel efforts on securing mineral networks were also undertaken earlier this month when US Treasury Secretary Scott Bessent convened a Finance Ministerial in Washington to explore ways to strengthen and diversify critical mineral supply chains, particularly rare-earth elements.

The meeting brought together senior officials from Australia, Canada, the European Union, France, Germany, India, Italy, Japan, Mexico, South Korea and the United Kingdom, with India represented by Union Minister Ashwini Vaishnaw.

India-US engagement has also continued on the defence front, with a US Congressional delegation led by House Armed Services Committee Chairman Mike Rogers, along with US Ambassador to India Sergio Gor, holding discussions with Defence Secretary Rajesh Kumar Singh on January 27.

The talks focused on deepening defence industry collaboration and advancing bilateral military ties, including the recently concluded 10-year Major Defence Partnership Framework Agreement.

- ANI