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US President Donald Trump has announced that the United States and India are on the verge of finalising a significant trade deal, as high-level negotiations between the two nations continue. Speaking to reporters at the White House on Wednesday, Trump said, "We're very close to a deal with India where they open it [the market] up." He later reiterated this optimism in an interview with Real America's Voice, stating the agreement was "very close."The two countries have been engaged in intense trade talks for months, with the aim of concluding an agreement before steep US tariffs on Indian goods take effect on 1 August. Trump initially announced a 27% tariff on Indian imports on 2 April as part of a broader trade policy but extended the deadline to allow for further negotiations. An Indian delegation is currently in the US for discussions, according to sources cited by Reuters. Both sides have expressed optimism about the deal's progress. On Tuesday, Trump highlighted that the agreement would grant the US greater access to India's market, drawing parallels with a recent trade deal with Indonesia. "India is basically working along that same line. We are going to have access to India," he said. Indian Commerce Minister Piyush Goyal also noted this week that talks are advancing rapidly, though he previously cautioned that India would only agree to a deal that serves its national interests. Despite the positive momentum, challenges remain, particularly around agricultural access, auto components, and tariffs on Indian steel. The US has long sought greater entry to India's farm sector, a sensitive issue for India due to concerns over food security and the livelihoods of millions of small farmers. Bilateral trade between the US and India reached $190 billion, with both leaders aiming to increase this to $500 billion. India has already lowered tariffs on certain US goods, such as Bourbon whiskey and motorcycles, but the US continues to face a $45 billion trade deficit with India, which Trump is keen to address. Trump has also recently renewed his aggressive tariff strategy, issuing warning letters to major trading partners, including the European Union, Canada, Mexico, Japan, and South Korea, with tariffs set to begin on 1 August. He hinted at the possibility of a separate deal with the EU, stating on Wednesday that it "could possibly" be reached soon. The outcome of the India-US trade talks could significantly reshape economic ties between the two nations, with both sides hopeful for a resolution in the coming weeks.
