Trade talks with India ‘coming along great,’ says Prez Trump

THEBUSINESSBYYTES BUREAU

WASHINGTON, APRIL 30, 2025

In a promising development for global trade, US President Donald Trump on Tuesday affirmed that trade negotiations with India are progressing well, raising hopes for a landmark agreement between the world’s largest democracies. Speaking to reporters at an airport en route to a rally in Michigan to mark the first 100 days of his second term, Trump said, “India’s coming along great. I think we’ll have a deal with India… they want to make a deal.”

President Trump’s upbeat remarks come amid renewed efforts by the administration to recalibrate America’s trade relations with major partners, following a wave of reciprocal tariffs that have reshaped global commerce in recent months. While he stopped short of providing a definitive timeline, his confidence in a successful outcome underscored the strategic importance of the Indo-US economic partnership.

Leading the negotiations is Treasury Secretary Scott Bessent, who has been at the forefront of crafting new trade deals across Asia in the wake of President Trump’s aggressive tariff strategy. Speaking to CNBC, Bessent said, “I would guess that India would be one of the first trade deals we would sign.” He further suggested that the agreement could be finalized as early as this week or next.

This potential deal with India would be the first of its kind following the US administration’s sweeping reciprocal tariffs, announced earlier this month. India, which initially faced a 26 percent import levy under the new regime, saw the rate dropped to 10 percent for a 90-day grace period as talks intensified. In contrast, China remains under a much steeper 145 percent tariff, a reflection of its ongoing trade tensions with Washington.

India’s rapid engagement and restraint—most notably its decision not to retaliate against the US tariffs—have been viewed in Washington as a constructive approach. The Trump administration is touting the ongoing negotiations with India as a model response to its tariff measures, highlighting India’s willingness to engage in meaningful trade reforms.

Although the specifics of the deal are still under wraps, US officials and industry leaders are optimistic. One major component expected in the agreement is a significant reduction in tariffs on imported automobiles—an issue the US has consistently raised in trade discussions with India. Such a move would mark a major concession and a victory for American automakers seeking expanded access to the Indian market.