US President Donald Trump has said that talks with India on tariffs are going great and the two countries will reach a trade agreement soon. The US President informed reporters outside the White House last night ahead of a rally in Michigan.
Earlier this week, US Treasury Secretary Scott Bessent also affirmed that India could be one of the first to sign a trade deal with the US, though he did not provide any further details. In February, India and the US agreed to begin work on the first phase of a trade deal, aiming to conclude it by the end of this year and boost bilateral trade to 500 billion dollars by 2030.
Donald Trump had levied a 26 per cent reciprocal tariff on India, and had later announced a 90-day pause on the duties to discuss trade agreements with several countries.
“The prime minister (Modi), as you know, was here three weeks ago, and they want to make a deal,” he added. Prime Minister Narendra Modi visited the United States in late February.
Trump’s remarks came after US Commerce Secretary Howard Lutnick indicated that Washington had reached a trade deal with New Delhi and was waiting for final approvals from the Indian government before announcing it.
“I have a deal done … but I need to wait for their prime minister and their parliament to give its approval,” Lutnick told CNBC in an interview on Tuesday.
Earlier, US Treasury Secretary Scott Bessent also said America was “very close” to signing a deal with India. He said on Monday that India could be one of the first to sign a trade deal with the US, possibly as soon as this week or next, although he gave no further details.
Statements from the Trump administration have said the two sides have already agreed on a roadmap for trade discussions.