Trump hints at trade deal with India soon; says U.S. will have access to Indian market
Mr. 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 U.S. President told reporters.
The U.S. 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, Mr. 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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
13 minutes ago
- The Hindu
U.S. Olympic and Paralympic officials bar transgender women from competing in Olympic women's sports
The U.S. Olympic and Paralympic Committee has effectively barred transgender women from competing in women's sports, telling the federations overseeing swimming, athletics and other sports it has an 'obligation to comply' with an executive order issued by President Donald Trump. The change, announced on Monday (July 21, 2025) with a quiet change on the USOPC's website and confirmed in a letter sent to national governing bodies, follows a similar step taken by the NCAA earlier this year. The USOPC change is noted obliquely as a detail under 'USOPC Athlete Safety Policy' and reference's Mr. Trump's executive order, 'Keeping Men Out of Women's Sports,' signed in February. That order, among other things, threatens to 'rescind all funds' from organizations that allow transgender athlete participation in women's sports. The national governing bodies will likely follow the USOPC's directive.
Economic Times
13 minutes ago
- Economic Times
‘No family support, only Rs 8,000 left': High-earning Chennai couple reveals why they have almost nothing to save each month
How Expensive Is It to Raise a Child in India? Much More Than Expected Infancy to Preschool (Ages 0 to 5) School Years (Ages 6 to 17) Higher Education (Ages 18 to 22) Combined Cost of Raising a Child Rethinking Parenthood in 2025 Parenting in India, especially in a metropolitan city like Chennai, comes with more than just sleepless nights and emotional responsibilities—it also demands an immense financial commitment. One couple recently opened up on Reddit about the financial strain they've been navigating while raising their infant in the city, giving a candid glimpse into the economic reality of modern couple, who reside in Chennai, bring home a combined monthly income of Rs 78,000 after taxes. Despite this moderate earning, they struggle to set aside even a modest Rs 8,000 in savings each month. The primary reason for their limited financial cushion is the significant expenditure involved in raising their 8.5-month-old have chosen a rental property that is located close to the daycare facility they trust. These two—rent and daycare—form the largest chunk of their expenses, totaling Rs 46,500 monthly. The pair emphasized that they aren't willing to compromise on these costs, having prioritized their child's safety, hygiene, and proximity over these major fixed expenses, their monthly budget also includes Rs 10,000 for groceries and daily essentials like fruits, vegetables, and milk. Travel costs add up to Rs 8,500 per month, which includes expenses for petrol, auto rides, and metro travel. Diapers for the baby require an additional Rs 3,000. Essential utilities—such as electricity and cooking gas—cost them another Rs 2,000, with Rs 1,000 spent on each, their monthly outgoings stand at ₹70,000. This leaves them with only Rs 8,000, which they attempt to use for both savings and any unexpected situations that may arise. They acknowledged that this limited amount is the only buffer they have in case of emergencies, reflecting how precarious their financial situation truly add to the pressure, the couple also shared that they do not have support from their families, as their marriage was against their relatives' wishes. With no backup system in place, they are trying to become entirely self-reliant. In light of this, the wife has started seeking part-time employment to supplement their income and help create more breathing room in their monthly story paints a raw and realistic picture of how raising a child in urban India, even on a seemingly decent salary, often involves tight budgeting, sacrifices, and a constant struggle to maintain financial a recent post on LinkedIn, Meenal Goel, a startup founder based in Bengaluru, shared her concerns about the rising expenses of parenthood in Indian cities. She highlighted that the financial demands of raising a child in today's urban India are significantly high, estimating that the overall cost hovers around ₹45 explained that many prospective parents are hesitant to start a family because they simply cannot manage the expenses involved. One such couple she met candidly shared their anxiety about becoming parents due to the financial load. Intrigued by their statement, Meenal decided to break down the actual numbers and analyze the complete cost structure of raising a child in India in early years of a child's life are particularly heavy on the pocket. Medical costs such as delivery and hospital care range between ₹1.5 lakh and ₹2.5 lakh. Immunizations during this stage require an additional ₹30,000 to ₹50,000. Essential baby products such as clothing, baby food, strollers, toys, and diapers can add up to ₹3 lakh. Playschool and daycare costs average around ₹2.5 for this stage: ₹7 to ₹8 lakhThis period involves significant educational and co-curricular investments. Annual school fees over this duration can accumulate to approximately ₹12 lakh. Additional academic support in the form of private tuition and coaching amounts to ₹3 lakh. Expenses related to school uniforms, electronic devices, books, and extracurricular activities like sports or music can reach ₹2 for this phase: ₹17 lakhCollege life adds its own share of expenses. Studying in a private college typically costs about ₹10 lakh. Including hostel accommodation, meals, and general living expenses, the total shoots up by another ₹3 for this stage: ₹13 lakhTaking all phases into account—from birth through college—the total amount required to raise a single child in an average Indian middle-class household stands between ₹38 lakh and ₹45 such high financial implications, monetary stability has become a genuine concern influencing family planning. Many couples now find themselves postponing or reconsidering the decision to have children purely because they feel unprepared to meet these steep expenses, revealed Goel.
News18
23 minutes ago
- News18
Trump says China trip is not too distant as trade tensions ease
Last Updated: Washington, Jul 23 (AP) President Donald Trump on Tuesday said a trip to China might be 'not too distant," raising prospects that the leaders of the world's two largest economies may meet soon to help reset relations after moving to climb down from a trade war. Trump made the remarks while hosting Philippine President Ferdinand Marcos Jr. at the White House, where he praised the 'fantastic military relationship" with Manila as the U.S. looks to counter China's influence in the Indo-Pacific region. Yet, Trump still said the U.S. is 'getting along with China very well. We have a very good relationship." He added that Beijing has resumed shipping to the U.S. 'record numbers" of much-needed rare earth magnets, which are used in iPhones and other high-tech products like electric vehicles. Widely speculated about since Trump returned to the White House, a summit between Trump and Chinese President Xi Jinping would be expected to stabilize — even for a short while — a difficult relationship defined by mistrust and competition. Beijing believes a leader-level summit is necessary to steady U.S.-China relations and that Trump must be wooed because he has the final say on America's policy toward China, despite more hawkish voices in his Cabinet, observers say. The question, however, is when. Danny Russel, a distinguished fellow at the Asia Society Policy Institute, said Trump has consistently shown his hunger for a visit to China and that Beijing has used that to bolster leverage. 'As soon as the leadership in Beijing is satisfied that Trump will be on his best behavior and will accept terms for a deal that they think are favorable, they will give a green light to the visit," Russel said. Sun Yun, director of the China program at the Washington-based think tank Stimson Center, said a visit 'is in the making" with two sides likely to strike a trade deal. What Trump said might mean the visit would not be in September but 'potentially November, but still depends on whether they play ball on trade and other things we want," Sun said. Trump's campaign to impose tariffs on other countries kicked off a high-stake trade war with Beijing. China raised tariffs on U.S. goods to 125% in response to Trump's hiking the tax on Chinese goods to 145%. Both sides also imposed on each other harsh trade restrictions on critical products: China on rare earths, and the U.S. on computing chips and jet engine technology. Trade tensions, however, eased following two rounds of high-level talks in Geneva and London, when the two sides agreed to lower tariffs — pending a more permanent deal by mid-August — and pull back on trade restrictions. Treasury Secretary Scott Bessent said Tuesday on Fox Business' 'Mornings with Maria" that he will be meeting with his Chinese counterparts in Stockholm next week to work on 'what is likely an extension" of the Aug. 12 deadline. 'I think trade is in a very good place with China," Bessent told host Maria Bartiromo. 'Hopefully, we can see the Chinese pull back on some of this glut of manufacturing that they're doing and concentrate on building a consumer economy." He said he also expects to bring up China's purchases of Russian and Iranian oil and Beijing's role in aiding Moscow in its war against Ukraine. Beijing has not announced any travel plans for Vice Premier He Lifeng, who led trade negotiations in both Geneva and London on behalf of the Chinese government, but it is not unusual for China to make such announcements closer to a travel date. In a possible friendly gesture, Beijing on Tuesday said it suspended an antitrust investigation into chemical maker DuPont's operations in China. China's State Administration for Market Regulation made the announcement in a one-line statement but gave no explanation for the decision. DuPont said in a statement that it is 'pleased" with China's action. Chinese regulators launched the investigation in April against DuPont China Group, a subsidiary of the chemical giant, as part of Beijing's broad, retaliatory response to Trump's sky-high tariffs. Beijing also has agreed to approve export permits for rare earth elements and rare earth magnets that U.S. manufacturers need to build cars, robots, wind turbines and other high-tech products. The U.S. has eased restrictions on some advanced chips and other technologies. (AP) AS AS (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 23, 2025, 04:15 IST News agency-feeds Trump says China trip is not too distant as trade tensions ease Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
