Washington: US President Donald Trump said a “very big” trade deal is on cards with India, hinting at significant progress in the negotiation process of a long-awaited bilateral trade agreement between the two countries.
“We are having some great deals. We have one coming up, maybe with India. Very big one. Where we’re going to open up India,” said Trump while speaking at the “Big Beautiful Bill” event at the White House Friday.
The president said the US signed a trade deal with China. However, he did not elaborate on the details of the deal signed with China.
“Everybody wants to make a deal and have a part of it. Remember a few months ago, the press was saying, ‘You really have anybody of any interest? Well, we just signed with China yesterday. We are having some great deals,” he said.
“We’re not gonna make deals with everybody. Some we are just gonna send a letter saying thank you very much, you are gonna pay 25, 35, 45 per cent. That’s an easier way to do it,” the president said.
Trump’s remarks come as an Indian team headed by chief negotiator Rajesh Agarwal Thursday arrived in Washington for the next round of trade talks with the US.
Both countries are engaged in negotiations for an interim trade deal and are trying to finalise the pact before July 9.
The high tariffs announced by the US April 2 were suspended by the Trump administration till July 9.
Agriculture and dairy sectors are difficult and challenging areas for India to give duty concessions to the US. India has not opened up dairy in any of its free trade pacts signed so far.
The US wants duty concessions on certain industrial goods, automobiles – especially electric vehicles, wines, petrochemical products, dairy, and agricultural items like apples, tree nuts, and genetically modified crops.
India is seeking duty concessions for labour-intensive sectors like textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas in the proposed trade pact.
