India–US Trade Deal Nears Final Stage, Says President Trump

Washington D.C. — U.S. President Donald Trump has indicated that a trade agreement between the United States and India is in its final stages. Speaking at the swearing-in ceremony of Sergio Gor, the newly appointed U.S. Ambassador to India, Trump said that tariffs on Indian imports will soon be reduced.

In his remarks, President Trump stated, “We are currently finalizing a new trade deal with India. They don’t like me very much right now, but they will again soon. We’re very close to a fair trade deal. They are tough negotiators, Sergio, so you’ll have to be careful. The agreement—beneficial to both nations—is nearly done.”

Later, addressing reporters at the Oval Office, Trump confirmed that the U.S.–India trade deal is nearing completion. On the issue of tariffs, he noted, “High tariffs were imposed on India due to Russian oil imports, but now that trade has decreased significantly, we will lower tariffs at the appropriate time.”

Earlier, on November 5, India’s Minister of Commerce and Industry Piyush Goyal stated that the bilateral trade discussions with the U.S. were progressing positively, though he acknowledged that several sensitive and complex issues would take time to resolve.

Both nations aim to conclude the first phase of the trade agreement by the end of 2025. So far, five rounds of negotiations have been completed, with the most recent virtual meeting held on October 23 between delegations from both sides.

The deal envisions increasing bilateral trade from the current USD 191 billion to USD 500 billion by 2030.

Minister Goyal had participated in high-level talks in Washington, D.C., in September, while a U.S. delegation led by Assistant Trade Representative Brendan Lynch held “positive and forward-looking” discussions with India’s Commerce Department in New Delhi the same month.

The trade pact is viewed as a significant step toward strengthening global trade cooperation and deepening economic partnership between the world’s two largest democracies.