Washington DC [US]: US President Donald Trump on Tuesday (local time) indicated that Washington and New Delhi are nearing a new trade agreement, adding that tariffs on Indian goods could soon be reduced.
The remarks came during the swearing-in ceremony of Sergio Gor as the new US Ambassador to India. “We’re making a deal with India — a much better one than before,” Trump said. “Right now, they don’t love me, but they will again. We’re getting a fair deal. They’re strong negotiators, so Sergio, you’ll have to look into that. I think we’re close to something that works for everyone.”
Later, speaking with reporters in the Oval Office, Trump confirmed that discussions on lowering tariffs were underway. “The tariffs are high because of the Russian oil issue, but India has cut back significantly. Yes, we’re going to bring the tariffs down — at some point, they’re coming down,” he said.
The statement follows recent comments from India’s Commerce Minister Piyush Goyal, who described the ongoing bilateral trade talks as “progressing very well,” while cautioning that several “sensitive and serious” matters still need to be resolved.
Since March, five rounds of negotiations have been held virtually and in person, with both sides targeting an agreement by late 2025. The proposed trade deal — first outlined in February under the directives of both leaders — aims to boost bilateral trade from the current USD 191 billion to USD 500 billion by 2030.
In September, Minister Goyal led a high-level Indian delegation to Washington for discussions, followed by talks in New Delhi between India’s Department of Commerce and a US delegation headed by Assistant US Trade Representative for South and Central Asia, Brendan Lynch. Both sides described the meetings as “positive and forward-looking,” agreeing to accelerate efforts toward a mutually beneficial conclusion.
