WASHINGTON: United States President Donald Trump stated on Tuesday that the US and India are "pretty close" to finalizing a bilateral trade deal. Speaking to reporters at the Oval Office, Trump noted that the upcoming agreement would be distinct from previous pacts between the two nations.
"They want to make a deal. We're going to make a deal. Pretty close, yeah," Trump said in response to a reporter's question, adding, "It’s going to be a much different kind of deal than we've done."
The remarks follow recent diplomatic and trade engagements between Washington and New Delhi. US Secretary of State Marco Rubio recently visited India to discuss bilateral relations, focusing on key sectors including trade, energy, technology, defense, and people-to-people ties.
Additionally, Commerce Minister Piyush Goyal met with US Trade Representative Jamieson Greer in Milwaukee and Washington earlier this month to work through the details of the proposed agreement.
India and the US initially announced the finalization of the framework for the first phase of the bilateral trade agreement (BTA) in February. However, subsequent shifts in the US tariff landscape have prompted further negotiations between the two governments to adapt the pact.
"As businesses and entrepreneurs, we monitor international trade policies closely because cross-border agreements directly impact market access, supply chains, and operational costs. President Trump's remarks about an evolving trade framework indicate that enterprises operating between India and the US should stay prepared for regulatory adjustments. A revised tariff and trade landscape could introduce both new opportunities and compliance requirements for companies engaged in bilateral commerce, technology, and energy sectors." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
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