US President Donald Trump announced on Monday that the United States is “close to” finalizing a trade agreement with India. This statement came as Washington imposed fresh tariffs on several other countries.
During a private dinner with Israeli Prime Minister Benjamin Netanyahu at the White House, Trump told reporters, “We’ve made a deal with the United Kingdom. We’ve made a deal with China. We are close to making a deal with India.”
Trump Issues Fresh Tariff Warnings
At the same time, Trump issued a strong warning to nations unwilling to meet US trade terms. He made it clear that non-compliant countries would face penalties.
“Others we met with, and we don’t think we’re going to be able to make a deal, so we just send them a letter,” he explained. “We’re sending out letters to various countries telling them how much tariffs they have to pay.”
What We Know About the India Deal
While Trump did not reveal any specific details about the nature of the US-India trade agreement, he signaled openness to compromise in certain cases.
“Some will maybe adjust a little bit depending if they have a cause,” he added. “We’re not going to be unfair about it.”
Previously, media reports suggested that India had made the US aware of several key concerns. These included issues related to dairy and the agricultural sector. In response, US negotiators reportedly acknowledged these concerns and are considering “limited relief” for India on dairy imports.
In return, India may offer tariff reductions on selected US-made electronic goods. These mutual adjustments could help both sides move forward toward a finalized agreement.
Trump Optimistic About Lower Tariffs
Trump also referred to India’s willingness to ease trade restrictions. He believes this shift could lead to lower US tariffs in the final deal.
“Right now, India doesn’t accept anybody in. I think India is going to do that. If they do, we’re going to have a deal for less—much less—tariffs,” Trump said. He was referring to the 26% reciprocal tariffs he announced earlier on April 2. Those tariffs are currently on hold as trade discussions continue.
More Countries Face New US Tariffs
Meanwhile, Trump’s administration has expanded tariff duties on a long list of nations. On Monday, the US issued new tariffs on imports from Japan, South Korea, Myanmar, Laos, South Africa, Kazakhstan, Malaysia, Tunisia, Indonesia, Bosnia, Bangladesh, Serbia, Cambodia, and Thailand.
These tariffs will take effect starting August 1, as per official letters posted by Trump on Truth Social, his social media platform.
