Trump Says US ‘Close to Fair Trade Deal’ With India Soon

New York/Washington — The United States is “pretty close” to finalizing a fair trade deal with India, President Donald Trump announced, signaling a potential breakthrough in the ongoing trade negotiations between the two nations.

Speaking at a ceremony in the Oval Office where Sergio Gor was sworn in as America’s Ambassador to India, Trump said, “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.”

He emphasized that the forthcoming deal would be “fair for both sides,” noting that previous trade agreements were not beneficial for the US. Addressing Treasury Secretary Scott Bessent during the event, Trump said, “We’re getting close… to doing a deal that’s good for everybody.”

Talks Progress and Tariff Relief Ahead

Trump hinted at a possible reduction in tariffs on India, which had been significantly raised during his administration due to India’s oil imports from Russia. “The tariffs are very high on India because of the Russian oil, but they’ve stopped doing that. It’s been reduced very substantially. At some point, we’re going to be bringing them down,” he stated.

Relations between New Delhi and Washington were strained after the US imposed up to 50% tariffs on Indian goods, including 25% linked to Russian oil imports. India described the move as “unfair, unjustified, and unreasonable,” maintaining that its energy strategy is guided by national interests.

Talks Near Completion

Officials confirmed that five rounds of trade negotiations have been completed for the first phase of the bilateral agreement. Both nations are reportedly aligning on most issues and are now finalizing the legal language of the deal.

If finalized, this trade deal could mark a major milestone in US-India relations, opening doors for deeper economic cooperation, increased market access, and reduced trade barriers between two of the world’s largest democracies.