US PRESIDENT Donald Trump on Friday said a "very big" trade deal could be finalised with India, suggesting significant movement in the ongoing negotiations 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," Trump said at the “Big Beautiful Bill” event at the White House.
The president also mentioned a trade agreement with China but did not provide details. "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.
‘Some we are just gonna send a letter’
Trump said that while deals are being made with some countries, others may face tariffs. "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," he said.
Trump's comments come as an Indian delegation led by chief negotiator Rajesh Agarwal arrived in Washington on Thursday for the next round of trade talks with the US.
Talks ahead of July 9 deadline
Both countries are working on an interim trade agreement and are aiming to conclude it before July 9. The US had announced high tariffs on April 2, but the Trump administration suspended them until July 9.
Agriculture and dairy remain sensitive areas for India, which has not included dairy in any of its free trade agreements so far. India is cautious about offering duty concessions in these sectors.
The US is seeking duty reductions on items such as industrial goods, automobiles (especially electric vehicles), wines, petrochemical products, dairy products, and agricultural goods like apples, tree nuts, and genetically modified crops.
India, on the other hand, wants duty concessions for sectors such as textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas.
(With inputs from agencies)
Piyush Goyal with shadow chancellor Rachel Reeves (centre), Vikram Doraiswami and other officials at the India Global Forum
And , Goyal with Jonathan Reynolds