New Delhi: America’s tariff negotiations with India are “coming along great”, said US President Donald Trump on Tuesday, while adding that Washington is likely to finalize a trade deal with New Delhi soon. Trump had slapped a 26 per cent reciprocal tariff on India, and later gave it a pause for 90 days for trade agreement discussions.
Talking to reporters outside the White House, the US President remarked, “I think we’ll have a deal with India.” “The prime minister (Modi), as you know, was here three weeks ago, and they want to make a deal,” he pointed out. In late February, Prime Minister Narendra Modi paid a visit to the US.
US Commerce Secretary Howard Lutnick pointed out that Washington had finalised a trade deal with New Delhi and was awaiting final approval from the Indian government before making it official. “I have a deal done … but I need to wait for their prime minister and their parliament to give its approval,” Lutnick said during an interview with CNBC on Tuesday.
Earlier this week, US Treasury Secretary Scott Bessent had said that India could be among the first countries to sign a trade deal with the US, although he gave no additional details.
In February, India and the US had decided to begin work on the first phase of a trade deal, and were aiming to conclude it by the end of this year and improve bilateral trade to $500 billion by 2030.
Even though India has reportedly made several concessions on energy and defense spending to solidify ties with the US, Union Minister Piyush Goyal underlined that India will not be pressured into any agreement and will always prioritise the interests of its citizens.
