‘Going to have access into..’: Donald Trump shares update on India-US trade deal after Indonesia tariff settlement; says ‘working on same line…’

Trump administration is reportedly mulling a trade deal by which India will doubtless face tariffs of lower than 20%.

India-US trade deal: US President Donald Trump on Tuesday stated that America is working on a deal with India which supplies larger access to Indian markets. Trump’s feedback got here on the again of a trade deal announcement with Indonesia, after which the latter will face a diminished tariff charge of 19%.Talking in regards to the deal with Indonesia, Trump stated the US is working on related strains for an settlement with India. “We made a deal with Indonesia. I spoke to their really great president…and we made the deal. We have full access to Indonesia, everything. As you know, Indonesia is very strong on copper, but we have full access to everything. We will pay no tariffs. They are giving us access into Indonesia, which we never had. That’s probably the biggest part of the deal…India is basically working along that same line.”Also Read | Trump tariff warfare: Deal or no deal – why it gained’t matter a lot for India“We’re going to have access into India. You have to understand, we had no access to 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…,” Trump stated.

India-US trade deal: What’s the most recent?

Trump’s feedback on elevated access to Indian markets comes at a time when a staff of India’s commerce ministry officers are within the US for trade deal talks. The officers arrived within the US on Monday and India’s chief negotiator Rajesh Agarwal is anticipated to attain Washington later this week.Meanwhile, Commerce Minister Piyush Goyal has stated that India-US trade deal talks are progressing at a ‘fast pace’.“Negotiations are going on at a very fast pace and in the spirit of mutual cooperation so that we can come out with a win-win trade complementing agreement with the United States,” Goyal stated.Last week a Bloomberg report stated that the Trump administration is mulling a trade deal by which India will doubtless face tariffs of lower than 20%, down from the 26% introduced by Trump in April this yr.Also Read | India-US trade deal: Why Indian importers are delaying customs clearance of American dry fruit; ‘opting to pay penalty because…’Donald Trump has set a contemporary deadline of August 1, 2025 for reciprocal tariffs to be efficient. Since final week he has been sending tariff letters to numerous US buying and selling companions. Over 20 nations have obtained a tariff letter thus far. India has not obtained any tariff letter from the US, presumably due to ongoing trade negotiations between the nations. Last week Trump had indicated that the US is nearing a trade deal with India.