'We have another deal coming up': Donald Trump says US 'very close' to striking deal with India, negotiations go on

US President Donald Trump has indicated that the United States is nearing a significant trade agreement with India, as efforts to expand market access for American businesses gain traction. Trump's comments were made during a meeting in the Oval Office, where he asserted, "We have another one (deal) coming up, maybe with India... We’re very close to a deal with India, where they open it up."

This statement highlights the ongoing negotiations aimed at reducing tariffs and enhancing bilateral trade relations between the two nations.

Trump outlined ongoing strategies to reach favourable trade terms, emphasising, "We’ve made deals with a lot of great places. We have another one coming up, maybe with India. I don’t know, we’re in negotiation. When I send out a letter, that’s a deal." He further said that the US has "some pretty good deals" to announce in the coming days. 

“The best deal we can make is to send out a letter, and the letter says that you'll pay 30%, 35%, 25%, 20%. We have some pretty good deals to announce,” he added.

In a recent development, Trump announced a new trade agreement with Indonesia, which imposes a 19 per cent tariff on Indonesian imports while granting American products tariff-free access to the Indonesian market.

The prospect of a US-India trade pact comes as India's Commerce Ministry delegation is in the US for fresh negotiations. Before this, Commerce Minister Piyush Goyal emphasised India's commitment to thorough talks, stating that any deal would align with national interests and not be based solely on timelines.

Trump has consistently credited his administration's tariff policies for opening foreign markets to US businesses. He remarked, "We’re going to have access into India. And you have to understand, we had no access into any of these countries. Our people couldn't go in. And now we're getting access because of what we're doing with the tariffs."

The President reiterated his administration's achievements in securing market access, adding, "You have to understand, we had no access into any of these countries and now we’re getting access because of what we’re doing with the tariffs."

As the negotiations progress, the US aims for a limited trade pact that targets lower tariffs on specific goods and services, particularly keeping them below 20% on select items.