Trade deal with India will cut tariffs, open market access: Donald Trump

As India and the United States move closer to finalising a trade agreement, US President Donald Trump on Wednesday said the deal would allow American companies to enter the Indian market and compete fairly, with significantly lower tariffs.

Speaking to reporters aboard Air Force One, Trump said, “I believe we’ll reach a deal with India. It’ll be a different kind of agreement — one where we can compete. At the moment, India doesn’t really let anyone in. But if that changes, we’ll have a deal with much lower tariffs.”

His remarks came shortly after US Treasury Secretary Scott Bessent said on Fox News that the two countries are close to an agreement that would reduce tariffs on American goods entering India and help the country avoid higher duties imposed by the Trump administration.

Indian negotiators extended their stay in Washington until Monday to push for a breakthrough, aiming to finalise the deal before July 9, when a 90-day tariff freeze ends. Without a deal, India’s new “reciprocal” tariffs could jump from 10% to 27%.