US President Donald Trump said he is confident that the United States and India will reach a long-awaited trade agreement after another round of negotiations concluded this week in New Delhi.
Speaking to reporters at the Oval Office, Trump praised Prime Minister Narendra Modi and said, “We will get to a deal because I like your Prime Minister a lot. He is a good friend of mine, we get along very well, and we have a very good relationship.”
Trump also said that for many years India imposed high tariffs on American goods while the US collected very little in return. He claimed the situation has now changed and said the US is earning more from trade with India, while both countries continue working toward a final agreement.
His comments came shortly after India’s Commerce Ministry said that New Delhi and Washington remain committed to concluding a bilateral trade pact. A US delegation led by chief negotiator Brendan Lynch visited India this week to advance discussions and finalize details of an interim deal.
India and the US had agreed on the first phase of a trade framework in February and were expected to complete it by March. Under the proposal, tariffs on Indian exports to the US would be reduced to 18%, significantly lower than the 50% rate announced earlier by the Trump administration.
However, negotiations slowed after a US court ruling struck down reciprocal tariffs. India has also urged Washington to withdraw Section 301 trade investigations and resolve outstanding trade issues through direct negotiations. Meanwhile, the Trump administration recently proposed fresh tariffs of at least 10% on imports from around 60 trading partners, including India, adding another challenge to ongoing trade talks.
Update: India US Interim Trade Deal May Be Finalized by Mid July
Commerce Minister Piyush Goyal said India and the US held productive discussions from June 2 to 4 in New Delhi, with officials from multiple US trade departments participating in the talks.
Goyal said both sides are rapidly resolving pending issues and expect to execute the first tranche of the bilateral trade agreement by mid July. The deal is expected to provide preferential market access and strengthen trade ties between the two countries.
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