FX.co ★ Trade Deal with India 'Not Too Distant', Says U.S. Commerce Secretary

U.S. Commerce Secretary Howard Lutnick expressed optimism about the possibility of a trade agreement between the United States and India emerging in the near future, highlighting significant progress in negotiations and the shared benefits of such a deal. Speaking at the U.S.-India Strategic Partnership Forum summit, Lutnick remarked, "We have found a mutually beneficial path," and noted that early participants in trade agreements often experience favorable terms. He commended India's proactive approach in discussions and mentioned ongoing negotiations with a U.S. delegation currently visiting India. Lutnick addressed concerns regarding India’s protective tariffs, emphasizing the need for their reduction to establish a "proper trading relationship." He called for mutual market access and efforts to diminish the trade deficit, expressing hope that a balanced agreement is on the horizon.