U.S. President Donald Trump on Thursday stated that Washington is "very close" to finalizing a tariff deal with India, signaling a possible breakthrough in bilateral trade negotiations ahead of a looming August 1 deadline.
Trump's comments come amid ongoing discussions between Indian and U.S. officials, with a delegation from India’s Commerce Ministry currently in Washington for a fresh round of talks. The negotiations, which began earlier this week, are expected to conclude by July 17.
In an interview with Real America's Voice, Trump said, “We are very close to an India tariff deal,” adding that similar discussions are underway with a few other nations.
Just a day earlier, Trump had hinted that "another deal is coming, maybe," following the announcement of a trade agreement with Indonesia. That deal saw a significant reduction in tariffs — from 32% to 19% — and was hailed by Trump as a model for future agreements. “We made a terrific deal… I think something similar would happen with India,” he added.
The U.S. is reportedly pushing to finalize multiple trade agreements before August 1, when new reciprocal tariffs are scheduled to take effect. If India and the U.S. fail to reach an agreement by then, Indian goods could face an additional 16% levy on top of the existing 10% base tariff.
India, however, has maintained a cautious stance. Earlier this month, Commerce Minister Piyush Goyal clarified that India would not commit to any trade agreement based on imposed deadlines. “India will enter a trade deal only when it is properly concluded and in the national interest,” Goyal stated.
The outcome of this high-stakes negotiation could have significant implications for U.S.-India trade relations, which have seen friction over tariffs, market access, and regulatory issues in recent years.
