US President Donald Trump said trade talks with India were “going great'” on Tuesday. He believed that both countries would soon reach a deal. He spoke to reporters outside the White House before leaving for a rally in Michigan.
Trump Plans Global Engagements During Tariff Pause
Trump also said he planned to visit Africa. In addition, he would hold talks with Australian officials during the 90-day pause on tariffs. This pause gives time for trade negotiations with multiple nations.
Commerce Secretary Confirms Deal Is Ready
Meanwhile, U.S. Commerce Secretary Howard Lutnick said the deal with India was already done. In an interview with CNBC, he stated, “I have a deal done … but I need to wait for their prime minister and their parliament to give its approval.” This shows that only India’s formal approval remains.
Treasury Secretary Adds to Optimism
Earlier this week, U.S. Treasury Secretary Scott Bessent also shared his views. He said India might be one of the first countries to sign a trade agreement with the U.S. However, he didn’t offer any more details.
Trump Paused Tariffs for Talks
Previously, Trump had imposed a 26% reciprocal tariff on Indian products. However, he later announced a 90-day pause. This move aimed to create room for trade talks with India and others.
First Phase of Trade Talks Underway
In February, India and the U.S. began working on the first phase of the trade deal. They agreed to finish it by the end of the year. They also aimed to increase bilateral trade to $500 billion by 2030.
Modi and Trump Agreed on Fast-Tracking Deal
That same month, Prime Minister Narendra Modi visited Trump in the U.S. During the visit, both leaders agreed to start formal discussions. They wanted to settle tariff issues and finalise the deal quickly.
India Makes Concessions But Stands Firm
India reportedly made several concessions, especially in energy and defence sectors, to move the deal forward. Still, Union Minister Piyush Goyal made India’s position clear. He said, “India will not be pressured into any deal.” He added that the government would protect the interests of its people.
