Trump Signals Imminent India-US Trade Deal to Slash Tariffs

Washington – US President Donald Trump announced on Tuesday that a trade agreement between the United States and India is nearing completion, aiming to significantly reduce tariffs and foster fair competition for businesses in both nations. Speaking to reporters, Trump emphasized that the deal would allow American companies to compete more effectively in India, a market he described as currently restrictive. “I think we are going to have a deal with India … and if they do that, we are going to have a deal for much less tariffs,” he stated, highlighting the potential for a more balanced trade relationship.

Negotiations for the Bilateral Trade Agreement (BTA) are intensifying as the July 9 deadline approaches, with both sides working to avoid the reinstatement of a 26% reciprocal tariff imposed by the US on India, which has been on hold since April 9. The Indian delegation, led by Chief Negotiator Rajesh Agrawal, has extended its stay in Washington to address remaining differences. India’s External Affairs Minister S Jaishankar expressed optimism about the talks, telling Newsweek magazine, “We are in the middle, hopefully more than the middle, of a very intricate trade negotiation. Obviously, my hope would be that we bring it to a successful conclusion.” Jaishankar noted India’s firm stance on tariff reductions for agricultural products, reflecting the complexity of the discussions.

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White House spokesperson Karoline Leavitt echoed the positive outlook, stating that the agreement could be finalized soon. The negotiations aim to create a level playing field, addressing longstanding trade imbalances and enabling smoother market access for both US and Indian companies.