Trump Hints at Potential Trade Deals with India This Week
US President Donald Trump has given hope to nations, including India, by suggesting the possibility of inking trade agreements as early as this week. While speaking with journalists on Air Force One, Trump stated that his government is currently negotiating with a number of countries, but he did not mention which nations. He asserted that the last terms would be determined by the US, saying, "I'll set my own deals because I set the deal, they don't set the deal".
Trump's remarks follow ongoing negotiations to prevent increased US import tariffs, which have been imposed on multiple countries. While most of the tariffs have been suspended temporarily, a minimum 10% duty is still intact, in addition to previous tariffs of 25% on steel, aluminium, and auto parts. The United States is said to be considering trade agreements with countries such as India, South Korea, and Japan, with India being one of the pivotal players in the negotiations.
India's Commerce Minister, Piyush Goyal, has recently visited the United States in order to take forward these negotiations. His trip is part of a larger agenda between President Trump and Indian Prime Minister Narendra Modi to kickstart the first phase of a Bilateral Trade Agreement (BTA), which will be finalized by autumn 2025. Senior officials have been tasked by both leaders to push these negotiations forward.
In a similar statement, US Vice-President J D Vance characterized Prime Minister Modi as a 'tough negotiator' and implied that India could be among the first nations to get a trade deal that would avoid the US tariffs. Vance also referred to negotiations with Japan, South Korea, and a number of European nations.
