In a notable development on the global trade stage, US President Donald Trump has stated that the United States is ‘close to making a deal with India’, even as his administration moves ahead with imposing new tariffs on several trading partners.
The announcement came during a White House press briefing where President Trump laid out the administration’s revised trade agenda.
“We’ve made a deal with the United Kingdom, we’ve made a deal with China, we’re close to making a deal with India,” President Trump said, adding that discussions with other countries were not as promising, leading the US to begin issuing formal tariff notices.
On the same day, the US government sent official letters to countries such as South Korea, Japan, Thailand, and Bangladesh, warning of upcoming tariff increases set to be implemented from August 1.
President Donald Trump described the move as part of a broader effort to create fairer trade terms for American industries, stating, “Some will maybe adjust a little bit. We’re not going to be unfair about it.”
Talks between the US and India have gathered pace in recent months, with both sides pushing for a limited trade agreement.
The current framework focuses on reducing tariffs and improving market access.
However, major differences remain, particularly around India’s agricultural and dairy sectors, areas that are highly sensitive both politically and economically.
New Delhi has consistently resisted liberalising agriculture in its trade pacts, citing food safety concerns and the need to protect the livelihoods of millions of rural farmers.
These sectors, though only contributing about 16% to India’s GDP, support nearly half of the country’s population.
In exchange for opening its markets, India is seeking concessions from Washington, particularly lower tariffs on its exports such as garments, leather goods, and footwear.
These industries form a vital part of India’s labour-intensive economy and employ millions of workers.
While the timeline for a final agreement remains unclear, President Donald Trump’s remarks signal that the two nations are edging closer to a trade breakthrough.
A successful deal could strengthen strategic ties between Washington and New Delhi while offering economic gains on both sides.
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