'We're Going To Have A Deal For Much Less Tariffs': Trump Confident On India-US Trade Pact

News18

9 hours ago

Last Updated:
India and the US have been negotiating over a Bilateral Trade Agreement (BTA) before the critical July 9 deadline of the 90-day pause on tariff escalations.
US President Donald Trump on Tuesday (local time) expressed confidence that India and the United States will soon finalise a trade deal, emphasising that the agreement would involve 'much less tariffs", helping both nations become more competitive.
'I think we are going to have a deal with India. And that is going to be a different kind of a deal. It is going to be a deal where we are able to go in and compete. Right now, India does not accept anybody in. I think India is going to do that, and if they do that, we are going to have a deal for much less tariffs," Trump said.
India and the US have been negotiating over a Bilateral Trade Agreement (BTA) before the critical July 9 deadline of the 90-day pause on tariff escalations.
India has adopted a tougher stance on agricultural issues as high-stakes trade negotiations with the United States enter a critical phase, government sources confirmed on Monday.
The Indian delegation, led by Chief Negotiator Rajesh Agrawal, has extended its stay in Washington, D.C., beyond the originally planned talks on Thursday and Friday, as both sides race to finalise an interim trade agreement ahead of the July 9 deadline, according to reports from ANI.
This urgency stems from the threat of the return of 26% reciprocal tariffs — punitive duties first imposed during the Trump administration on April 2. Though temporarily suspended for 90 days, these tariffs are set to automatically snap back if no deal is reached. A senior official warned bluntly, 'Failure in these negotiations will trigger the immediate reinstatement of the 26% tariff structure."
On the other hand, the United States is pushing for lower duties on its agricultural exports, including apples, tree nuts, and genetically modified crops. India, meanwhile, is demanding preferential access for its labour-intensive exports, such as textiles, garments, gems and jewellery, leather products, as well as agricultural goods like shrimp, oilseeds, grapes, and bananas.
Beyond the current interim talks, both nations are also laying the groundwork for a comprehensive Bilateral Trade Agreement (BTA), with the first phase targeted for completion by fall 2024. The long-term goal is ambitious — to more than double bilateral trade from the current $191 billion to $500 billion by 2030.