US President Donald Trump has indicated that a new trade agreement with India might be on the horizon, ANI reported.
Speaking to reporters during a meeting with Bahrain’s Crown Prince Salman bin Hamad Al Khalifa, Trump mentioned that the US is currently in talks with India and hinted that a deal could be announced soon.
Trump said August 1 would be a key date, suggesting that substantial revenue would start flowing into the US from various trade agreements. “We’ve already brought in over \$100 billion. The major tariffs are mostly on steel and automobiles. But starting August 1, more money will come in,” he said.
He added, “We’re close to a deal with India. We’re negotiating. The best deal is just sending out a letter saying tariffs are going up—30%, 35%, 25%, 20%. That gets results.”
Trump also announced a trade deal with Indonesia, which will see a reduced tariff of 19%. As for India, he said, “We’re finally going to get access. We didn’t have access to these markets before, and now we’re getting it because of the tariffs.”
Meanwhile, Indian government officials confirmed that the ongoing trade talks with the US are progressing in line with directions from Prime Minister Narendra Modi and President Trump. India’s negotiation team is currently in the US for the fifth round of discussions on the bilateral trade agreement.
