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Trump Signals Progress in Trade Talks with India, Expects Deal Soon
Former U.S. President Donald Trump on Tuesday expressed optimism about ongoing trade negotiations with India, stating that discussions on tariffs were “going great” and that he anticipated a bilateral trade agreement would be reached soon, according to Reuters.
Speaking to reporters outside the White House ahead of a rally in Michigan, Trump noted that the talks were taking place during a 90-day pause on proposed tariffs. The pause is aimed at allowing time to finalize trade agreements with multiple countries. Trump had earlier proposed a 26% reciprocal tariff on Indian goods but deferred its implementation to facilitate negotiations.
U.S. Commerce Secretary Howard Lutnick also commented on the matter in an interview with CNBC, revealing that a deal with India had been concluded on the U.S. side and was awaiting approval from India’s Prime Minister and Parliament. “I have a deal done … but I need to wait for their prime minister and their parliament to give its approval,” he said.
U.S. Treasury Secretary Scott Bessent further reinforced expectations of progress, stating earlier this week that India could be among the first countries to sign a trade agreement with the U.S., although he did not provide specific details.
In February, India and the U.S. agreed to work toward a phased trade deal with a goal of boosting bilateral trade to $500 billion by 2030. During Prime Minister Narendra Modi’s visit to the U.S. that same month, both leaders agreed to expedite discussions and resolve outstanding tariff issues.
While India is reported to have offered concessions in sectors such as energy and defense, Commerce and Industry Minister Piyush Goyal emphasized that India remains firm on protecting national interests. “India will not be pressured into any agreement. The welfare of the Indian people remains our priority,” Goyal said.
The potential trade deal marks a significant development in U.S.-India relations, with both countries aiming to deepen economic engagement in the coming years.
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