BIG statement by US President Donald Trump on India-US trade deal, says, 'We're going to...'

U.S. President Donald Trump has indicated that the ongoing negotiations between India and the U.S. for a much-anticipated interim trade deal are on track and it could be sealed soon. Trump said the proposed deal could provide American companies greater access to the Indian market in line with the trade pact between the U.S. and Indonesia.

India and the U.S. have been holding negotiations for the trade pact primarily to keep the tariffs below 20%. "We made a deal with Indonesia...We have full access into Indonesia," the US president told reporters.

The US president said his administration is going to announce a few other trade deals and mentioned India in that context. Under the trade deal, Indonesia is giving the U.S. access to the country, which we never had, Trump said.

“That’s probably the biggest part of the deal...India is basically working along that same line. We are going to have access to India,” he said. Washington has already sent letters to several countries sharing details of reciprocal tariff rates that would come into effect on August 1, 2025. New Delhi hopes it will be able to strike a deal with the U.S. to avoid the reciprocal tariffs. At the same time, India has indicated that it will not enter into the trade deal in a hurry.

India does not enter into any trade agreement based on deadlines and will accept the proposed trade deal with the U.S. only when it is fully finalised, properly concluded and in the national interest, Commerce Minister Piyush Goyal said earlier this month. An Indian Commerce Ministry team is in Washington for another round of talks on the proposed trade agreement.

India has hardened its position on the U.S. demand for duty concessions on agri and dairy products. New Delhi has, so far, not given any duty concessions to any of its trading partners in a free trade agreement in the dairy sector.

New Delhi is seeking the removal of this additional tariff (26%). It is also seeking the easing of tariffs on steel and aluminium (50%) and the auto (25%) sectors. President Trump announced heavy tariffs on a number of countries, including India, on April 2. However, it was soon postponed for 90 days until July 9 and later to August 1.

Except for the headline, the story has not been edited by DNA staff and is published from PTI