Trump Declares US Nearing Fair Trade Agreement with India

Post by : Raina Nasser

New York/Washington — President Donald Trump has stated that the United States is “pretty close” to wrapping up a fair trade deal with India, suggesting a significant development in the ongoing trade discussions between the two nations.

During a ceremony in the Oval Office for the swearing-in of Sergio Gor as the US Ambassador to India, Trump remarked, “We’re making a deal with India, a much different deal than we had before. They may not appreciate me now, but they will again.”

He highlighted that the upcoming agreement would be “fair for both parties,” asserting that previous trade arrangements did not favor the US. At the event, he told Treasury Secretary Scott Bessent, “We’re getting close… to finalizing a deal that will benefit everyone involved.”

Advancements in Talks and Potential Tariff Reductions

Trump suggested there may be a cut in tariffs related to India, which saw significant hikes during his term due to India's oil purchases from Russia. “Tariffs are high on India because of the Russian oil, but they have stopped importing it. That has greatly decreased. At some point, we are going to lower those tariffs,” he mentioned.

Relations between the US and New Delhi have been tense following the imposition of tariffs reaching 50% on Indian products, with 25% tied to oil imports from Russia. India labeled the move as “unfair, unjustified, and unreasonable,” arguing that its energy decisions are driven by national interests.

Negotiations Advancing

Officials have reported that five rounds of trade talks have concluded regarding the initial phase of the bilateral deal. Both countries are said to be aligning on most key aspects and are now in the process of finalizing the legal details of the agreement.

If this trade deal is concluded, it could represent a significant step forward in US-India relations, fostering deeper economic collaboration, improved market access, and reduced trade barriers between two of the globe’s largest democracies.