Washington3 minutes ago
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There is going to be a “big” trade deal between India and America soon. This was stated by US President Donald Trump at the “Big Beautiful Bill” event held at the White House.
Trump said that the US has recently signed a trade agreement with China and now something big is going to happen with India.
Trump announced to increase tariffs globally on 2 April, including 26% tariffs on India. But on 9 April it was postponed for 90 days.
This has given time to countries like India for the deal. Trump says his tariff policy will benefit the US economy. In such a situation, India and America want to complete the first phase of this deal by July 2025.
Big things related to the case at 5 points…
1. Donald Trump said- Everyone wants to deal
President Trump said, “Everyone wants to deal and wants to participate in it. A few months ago the press was saying, ‘Do you have any interesting deal?’
Well, we signed a deal with China yesterday. We have some great deals going on. Now there is going to be a deal with India. Very big deal. “
Trump said- We are not going to deal with everyone. We will just send a letter to some, in which it will be written, thank you very much. You have to pay 25, 35, 45 percent.
2. Target to take trade to $ 500 billion by 2030
People associated with the case said- In a conversation held weeks ago, there was a focus on more market access, tariff cuts, and non-tariff barriers mainly for industrial and agricultural products in both countries. The US delegation was led by officials of the US Trade Representative Office, while the Indian Ministry of Trade team was commanded by Rajesh Aggarwal. The agreement aims to increase the annual bilateral trade between the two countries from the current $ 190 billion to $ 500 billion by 2030.
3. Piyush Goyal said- trade deal will benefit both economies
At the end of the conversation on 10 June, Union Commerce and Industry Minister Piyush Goyal said that India and America are in the process of making a fair and equal trade agreement, which will benefit both economies.
He said, “PM Modi and US President Trump met in February 2025 … The two leaders have decided to make a bilateral trade agreement that is beneficial for the economies, traders and people of both countries. We are negotiating a good, fair, equal and balanced agreement that promote business.”
4. Jaishankar said- The deal will be final only when beneficial
India’s Foreign Minister S Jaishankar has said that any deal will be final only when it is beneficial for both countries. Jaishankar made this statement on Trump’s claim in which he said that India has offered to impose “no tariff”. Jaishankar said, “Nothing is decided until everything is fixed.”
5. India does not want to give more market access to America in the agricultural sector
India is taking precautions in this deal. He does not want American demands, such as more market access in agriculture and automobile sectors, damage domestic interests. India wants the deal to be balanced for both countries.
Sources say that the discount of tariffs on agricultural products, especially maize and soybeans, has become a stuck issue. It is reported that India is taking care in the matter of opening its market for genetically modified crops prevalent in American agriculture.
Trump put tariff on 2 April, then gave 90 days relief
On April 2, Donald Trump announced the imposition of reciperook tariffs on around 100 countries. He had said, “Today is Liberation Day, which America had been waiting for a long time.” However, on 9 April, he postponed the reciperochl tariff on all other countries except China for 90 days. Later, China also gave relief from tariffs and now the trade deal with China is finalized.
Trump has said that if a country imposes more tariffs on American goods, then America will also increase more tariffs on things coming from that country. Right now the US imposes 10% tariff on India’s exports, but if there is no new deal, then from July 8, a recipe of 26% may apply.
India’s trade deficit with America $ 41.18 billion
India with the US in the case of goods in 2024-25 in terms of goods, ie, the difference between imports and exports was $ 41.18 billion. It was $ 35.32 billion in 2023-24, $ 27.7 billion in 2022-23, $ 32.85 billion in 2021-22 and US $ 22.73 billion in 2020-21. The US has expressed concern over the growing trade deficit.