‘Very Big Trade Deal with India to Come Soon'
US President Donald Trump said a 'very big' trade deal could be signed with India soon, hinting at significant progress in the negotiation process of a long-awaited
bilateral trade agreement
.
This comes as negotiators meet in Washington to break a recent deadlock over key issues.
'We are having some great deals. We have one coming up, may be, with India, a very big one, where we are going to open up India,' Trump said at an event at the White House.
The comments offer a note of optimism for a potential interim trade deal, even as key differences persist between the two sides. His reciprocal tariffs on goods from trading partners are set to take effect on July 9, and an early deal would help New Delhi avert the hike.
Talks have been strained by Washington's demand that India open its market to genetically modified crops — an ask New Delhi has rejected, citing risks to its farmers. India is also unwilling to sign a deal that doesn't address both sectoral access and reciprocal tariffs on its exports, Bloomberg has reported.
Trump's remarks come as an Indian team headed by chief negotiator Rajesh Agarwal on Thursday arrived in Washington for the next round of trade talks with the US.
Agrawal is special secretary in the Department of Commerce.
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