US commerce secretary expects India trade deal soon
Donald Trump has set a postponed July 9 deadline for countries to avoid broad tariffs, aiming to fix what he calls US unfairness. (Reuters pic)
WASHINGTON : US commerce secretary Howard Lutnick on Monday voiced optimism for a trade deal soon with India to avoid tariffs threatened by President Donald Trump.
'You should expect a deal between the US and India in the not too distant future,' he told the US-India Strategic Partnership Forum, which promotes relations between the two countries, calling himself 'very optimistic.'
Trump has set a delayed deadline of July 9 for countries to avoid sweeping tariffs, as he seeks to shake up the global economy to correct what he says is unfairness to the US.
Lutnick, a strong advocate of tariffs, said he was a 'great fan' of India – but voiced longstanding concern about the emerging economy's use of tariffs.
On tariff negotiations with India, 'bringing them down to a level that is reasonable and appropriate so we can be great trading partners with each other, I think is absolutely on the table,' Lutnick said.
'There were certain things that the Indian government did that generally rubbed the US the wrong way. For instance, they generally buy military gear from Russia,' he said.
But he said that Trump believed in raising concerns and 'the Indian government is addressing it specifically and directly.'
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