Close to making deal with India : Trump announces as US slaps tariffs on 14 nations

8th July 2025 at 8:37 AM

1 minute read

All eyes will be on the upcoming trade deal between Washington and Delhi as Indian delegates led by Commerce and Industry Minister Piyush Goyal will be travelling across the Atlantic to meet their counterparts for a bilateral trade agreement (BTA).

Washington: U.S. President Donald Trump announced on Tuesday that the United States is nearing a trade agreement with India, even as his administration imposed fresh tariffs on 14 countries, including several key Asian and BRICS economies. The statement came during a press briefing at the White House, where Trump was hosting Israeli Prime Minister Benjamin Netanyahu.

Trade negotiators from Washington and New Delhi are working to finalize a tariff-reducing deal, though challenges remain, particularly regarding U.S. dairy and agriculture sectors. According to a report by ANI, Indian negotiators are firm on securing reciprocal tariff reductions and broader market access for high-employment goods to support the goal of doubling bilateral trade to $500 billion by 2030.

Trump’s announcement coincided with the release of letters sent to 14 nations, including Japan, South Korea, Thailand, Bangladesh, and Myanmar, notifying them of new tariffs ranging from 25% to 40%, effective August 1. The letters, shared via Trump’s Truth Social platform, warned against retaliatory measures, stating that any such actions would prompt further U.S. tariff increases. White House Press Secretary Karoline Leavitt confirmed that an executive order was signed to delay the original July 9 tariff deadline to August 1, providing a window for negotiations.

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The Press Trust of India reported Trump’s remarks, emphasizing his optimism about the potential India-U.S. trade deal. Meanwhile, posts on X reflected ongoing discussions about the tariffs and the prospective agreement with India, highlighting the global attention on Trump’s trade policies.