Trump Signals U.S.-India Trade Deal Is Near Amid Global Tariff Negotiations

U.S. President Donald Trump said on Tuesday that a trade agreement with India is likely on the horizon, as negotiations between Washington and New Delhi on tariffs progress positively. Speaking to reporters outside the White House, Trump expressed confidence in the discussions, stating, “I think we’ll have a deal with India,” referencing Indian Prime Minister Narendra Modi’s recent visit in February as a step toward solidifying bilateral terms.

The president’s remarks were echoed by Treasury Secretary Scott Bessent during a press briefing, where he confirmed the two nations were “very close” to finalizing an agreement. Bessent added that the U.S. has also entered “substantial talks” with Japan and sees a potential framework forming for a separate trade deal with South Korea. These efforts are part of the broader push by the Trump administration to recalibrate global trade partnerships following the rollout of sweeping tariffs earlier this year.

The White House is currently engaged in active negotiations with 17 of its 18 major trading partners—China being the notable exception. Bessent noted that many of these countries have already sent representatives to Washington in recent weeks. He emphasized that India’s structured tariff system makes it one of the more straightforward nations to negotiate with.

Economist and former Indian central bank governor Raghuram Rajan commented on the potential impact of a U.S.-India trade pact, stating that reduced tariffs would significantly benefit India and could enhance its appeal to global companies eyeing new markets. “It may cause a lot of companies to look at India in a new light,” Rajan told CNBC, highlighting the scale of the Indian domestic economy.

Vice President JD Vance also recently met with Modi to advance discussions, with Bessent hinting that further announcements may follow soon. As the U.S. navigates complex global trade terrain, India appears to be emerging as a key ally in America’s recalibrated economic strategy.