President Donald Trump also hinted that the US would eventually bring down tariffs on India.
Washington: US President Donald Trump sent positive signals on strengthening US-India relations this week, raising fresh hopes that a bilateral trade agreement between the world’s two largest democracies could be signed soon.
The US is “pretty close” to reaching a “fair trade deal” with India, Trump said, adding that he will lower the tariffs imposed on New Delhi “at some point.”
“We're making a deal with India, a much different deal than we had in the past. So right now, they don't love me, but they'll love us again,” Trump said. He made the remarks during a ceremony in the Oval Office, where Sergio Gor was sworn in as America's Ambassador to India by Vice President JD Vance.
“We're getting a fair deal, just a fair trade deal. We had pretty unfair trade deals. They're very good negotiators, Sergio, so you have to take a look at that, if you would please,” Trump said.
“But we're getting close. Scott, I think we're pretty close to doing a deal that's good for everybody,” Trump said to Treasury Secretary Scott Bessent, who was present in the Oval Office for the swearing-in ceremony. “That's right,” Bessent responded to Trump.
Trump was asked about the trade deal with India and whether he is willing to consider lowering the current tariff rate imposed on Delhi. “Well, right now the tariffs are very high on India because of the Russian oil, and they've stopped doing the Russian oil. It's been reduced very substantially. Yeah, we're going to be bringing the tariffs down,” Trump said. “At some point, no, at some point, we're going to be bringing them down. Without tariffs, this country would be in such trouble as they were for many years.”
Five rounds of talks have been completed so far for the first phase of the bilateral trade agreement between the US and India. The two countries are “very near” to concluding the proposed bilateral trade agreement, as both sides are converging on most of the issues.
