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Trump says India trade deal is 'very close', US will have 'access'
US President Donald Trump said on Wednesday that Washington is 'very close' to finalising a trade deal with India. Speaking in the Oval Office during a meeting with Bahrain's Crown Prince and Prime Minister, Salman bin Hamad Al Khalifa, Trump said the two countries are nearing an agreement that would see India further open its markets.
'We've made deals with a lot of great places. We have another one coming up, maybe with India. I don't know, we're in negotiation. When I send out a letter, that's a deal.'
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'The best deal we can make is to send out a letter, and the letter says that you'll pay 30%, 35%, 25%, 20%. We have some pretty good deals to announce,' he added.
Trump's comments come as a high-level team from India's Commerce Ministry is in the US for fresh trade talks. Earlier this month, Commerce Minister Piyush Goyal stressed that India doesn't rush into trade deals merely to meet deadlines.
Goyal emphasised that India would only sign a trade deal with the US once it is fully negotiated, finalised, and aligned with the country's national interest.
President Trump said on Tuesday the US is working on an agreement to gain better access to Indian markets. Discussing progress with India, he remarked: 'We're going to have access into India. You have to understand, we had no access into any of these countries. Our people couldn't go in. And now we're getting access because of what we're doing with the tariffs.'
Trump highlighted that American businesses previously struggled to enter key foreign markets and credited his administration's tariff strategy for opening doors. 'You have to understand, we had no access into any of these countries, and now we're getting access because of what we're doing with the tariffs,' he said.
India and the US have been negotiating a limited trade pact aimed at reducing tariffs, particularly keeping them below 20 per cent on certain goods and services.
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Also on Tuesday, Trump announced a new trade agreement with Indonesia, imposing a 19 per cent tariff on all Indonesian imports to the US. In return, American products will enjoy unrestricted, tariff-free access to Indonesia's markets. This deal replaces an earlier proposal for a 32 per cent tariff and reflects Trump's assertive approach to trade, using tariffs as leverage to secure better terms for US exports.
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