Prospects Rise for a New US-India Trade Deal, Says Trump

Highlights

Trump did not go into the specifics of the agreement reached with China or the chances of a major trade agreement with India.

US President Donald Trump the morning of Thursday (local time) declared that the news that a "very large" trade agreement with India may be possible, just days after signing a brand new accord with China. In his speech at the Big Beautiful Event held at the White House, Trump said that the US is "going to be opening up India," hinting at substantial progress towards the long-awaited bilateral trade deal that would bring the two partners together as strategic allies.

A huge deal with India due to be signed President Trump declared his belief that the US is close to concluding the largest trade agreement with India which he described as an "very important one" that could create new opportunities for economic growth between both countries.

"Everybody wants to create an arrangement and be portion of the deal. Do you remember a few months ago when the press was asking, "Do you do not have anyone of any interested? Well, we agreed to a deal in China yesterday. We're having some amazing deals. We are planning to do one perhaps with India. It's a huge deal. In the process of opening up India as part of the China agreement, we're beginning to open China," he said.

This is happening as a top-level Indian delegation, headed by chief negotiator Rajesh Agarwal, is in Washington for talks focused on bridging any gaps in the proposed agreement.

In the month of June, US-India trade negotiators were in India to discuss the accord. They had said that the White House had said that the US demanded that nations submit their best proposals for closed-door talks as the deadline for July 8 to negotiate reciprocal tariffs was two weeks away. "I am able to confirm the legitimacy and the substance of this letter. This letter was sent by the United States Trade Representative (USTR) sent the note to our all trading partners to send them a friendly reminding them that deadlines are fast approaching close," White House spokesperson Karoline Leavitt said.

US Secretary of Commerce Howard Lutnick had said that the US wanted to revive modern manufacturing technology and reduce the trade deficit through expanding exports to India while stating that both parties have "found the right place that can work" for both of them.