Post by : Raina
Al-Fahim
New York/Washington — President Donald Trump declared that the United States is “pretty close” to cementing a fair trade agreement with India, suggesting a significant advancement in ongoing trade talks between the two countries.
During a ceremony in the Oval Office for Sergio Gor's swearing-in as America’s Ambassador to India, Trump commented, “We’re making a deal with India, which is notably different from our past agreements. They may not be fond of me right now, but their sentiments will change soon.”
He assured that the upcoming deal would be “fair for both sides,” highlighting that former trading arrangements did not favor the US. Speaking to Treasury Secretary Scott Bessent, Trump remarked, “We’re getting close… to a beneficial deal for everyone involved.”
Progress in Negotiations and Potential Tariff Cuts
Trump pointed to potential tariff reductions for India, which saw significant hikes during his time in office, particularly related to its oil imports from Russia. “The tariffs on India are quite high due to Russian oil, but they have significantly decreased their purchases. We will soon begin to lower those tariffs,” he asserted.
Relations between New Delhi and Washington were impacted after the US imposed tariffs as high as 50% on Indian products, including a 25% surcharge linked to Russian oil imports. India labeled this action as “unfair, unjustified, and unreasonable,” stating that its energy procurement is driven by national priorities.
Negotiations on the Brink of Conclusion
Recent reports confirm that five rounds of discussions have been concluded for the initial phase of this trade agreement. Both nations are nearing consensus on most aspects and are now refining the legal text of the agreement.
If successful, this trade deal could represent a significant step forward in US-India relations, paving the way for enhanced economic collaboration, expanded market opportunities, and reduced trade barriers between two of the largest democracies in the world.
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