Post by : Rameen Ariff

New York/Washington — President Donald Trump revealed that the United States is “pretty close” to finalizing a fair trade deal with India, marking a significant potential advancement in the ongoing trade discussions between the two countries.

During a ceremony in the Oval Office for Sergio Gor’s appointment as Ambassador to India, Trump commented, “We are negotiating a very different deal with India than what we’ve had before. They’re not fond of me at the moment, but that will change soon enough.”

He underscored that the upcoming agreement would be “fair for both parties,” criticizing previous trade deals as unfavorable to the US. Trump addressed Treasury Secretary Scott Bessent, stating, “We’re getting close to a transaction that benefits everyone involved.”

Progress in Discussions and Tariff Reductions Expected

The President suggested potential tariff reductions on India, which saw increases during his tenure due to the country's imports of Russian oil. “We’ve imposed high tariffs on India due to their Russian oil purchases, but they’ve significantly cut back on that. Eventually, we’ll be lowering those tariffs,” he expressed.

Relations were notably tense after the US introduced tariffs as high as 50% on Indian products, which India deemed “unfair and unreasonable,” asserting its energy policy is shaped by national priorities.

Negotiations Enter Final Stages

Reports indicate that five rounds of discussions have been completed in the initial phase of the trade agreement. Both nations are aligning on various issues and are in the process of refining the legal terms of the deal.

Should this deal be finalized, it could signify a breakthrough in US-India relations, paving the way for enhanced economic collaboration, expanded market access, and diminished trade barriers between these two leading democracies.

#Global #World