Latest news with #Bahrain Crown Prince
Times of Oman
7 days ago
- Business
- Times of Oman
"Very close to a deal with India...we're in negotiation: US President Trump
Washington DC: US President Donald Trump on Wednesday hinted at reaching a new trade deal with India soon. While adding "maybe", he said that currently the US is in negotiations with India. Trump, while speaking to reporters during a bilateral meeting with Bahrain's Crown Prince Salman bin Hamad bin Isa Al Khalifa, emphasised that August 1 will be a significant day, when a lot of money will come into his country. "... We've brought in over $100 billion. The tariffs haven't kicked in significantly, except for automobiles and steel. August 1st is when a very substantial money comes into our country. We've made deals with numerous places. We had one yesterday," Trump said. "We have another one (deal) coming up, maybe with India... We're in negotiation. When I send out a letter, that's a deal... 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... We're very close to a deal with India where they open it up," Trump added. The US President on Tuesday said the United States is working on a deal that gives it access to the Indian markets. He also announced a new trade deal with Indonesia, after which the latter will face a reduced tariff rate of 19 per cent. Announcing progress on the India part, Trump stated, "We're going to have access into India. And 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." The ongoing bilateral trade talks (BTA) negotiations by India and the United States (US) are progressing as per the decisions of Prime Minister Narendra Modi and US President Donald Trump, said the government officials on Tuesday. "Our team is back in the US for carrying out the fifth round of negotiations on the bilateral trade agreement, so that agreement is progressing as per the decisions of our leaders and as per the terms of reference decided between the two countries," the government officials told ANI.
Reuters
16-07-2025
- Business
- Reuters
Trump says US will stick to 25% tariff on Japan, may have deal with India soon
WASHINGTON, July 16 (Reuters) - President Donald Trump said on Wednesday the U.S. will probably "live by the letter" on tariffs with Japan and may have another trade deal coming up with India, following his announcement of an accord with Indonesia on Tuesday. "We have some pretty good deals to announce," Trump told reporters at the start of a meeting with Bahrain's Crown Prince Salman bin Hamad Al Khalifa at the White House. He said he would also discuss trade issues with the Bahraini leader. "The big one really is going to be on the 150 countries that we're really not negotiating with, and they're smaller -- we don't do much business with." On July 7, Trump announced 25% tariffs on imports from Japan and South Korea, effective August 1. He also announced separate rates for a number of other countries. On Tuesday, he said letters would be going out soon to dozens of smaller countries notifying them their goods would face a tariff rate of over 10%. He said those smaller countries would receive a "notice of payment" with a uniform tariff rates for the whole group. The deal with Indonesia is among the handful struck so far by the Trump administration ahead of an August 1 deadline when duties on most U.S. imports are due to rise again. The European Union and Canada, meanwhile, are readying countermeasures if their talks with the U.S. fail to produce a deal. Trump has said he does not expect to reach a broader deal with Japan. Trump's trade moves have upended decades of negotiated reductions in global trade barriers. They have unsettled international financial markets and stoked worries about a new wave of inflation. Kevin Hassett, Trump's top economic adviser, told Fox News that "a whole bunch" of additional trade deals would be announced very soon, but gave no details. He said Trump's strict August 1 deadline had spurred a flurry of new activity, including talks with countries that had not previously been in touch. Trump on Wednesday repeated his prediction of a deal with India, which faces a 26% tariff rate, but gave no details. An Indian trade delegation arrived in Washington on Monday for fresh talks, with more officials expected to arrive Wednesday. European Union trade chief Maros Sefcovic also headed to Washington on Wednesday for tariff talks, an EU spokesperson told Reuters. He plans to meet U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer. Trump has threatened a 30% tariff on imports from the EU from August 1, a level Europe says is unacceptable and would end normal trade between two of the world's largest markets. Greer, Trump's top trade negotiator, told business executives in Detroit, that he was focused on shrinking the $1.2 trillion U.S. trade deficit and stemming the loss of U.S. advanced manufacturing capacity. Trump's tariff policies called for a universal tariff rate of 10% on all countries, with higher rates for the most "problematic" ones, including China, which has the highest tariff rate of 55%, Greer said, adding the president was willing to negotiate if countries want to invest.
