FX.co ★ US and India Close to a Trade Deal, Trump Says

In a statement delivered on Tuesday, U.S. President Donald Trump suggested that progress is being made towards a trade agreement with India. Trump indicated that the United States is nearing a point where it will lower tariffs on Indian imports, as reported by the Economic Times. These remarks came during the swearing-in ceremony of Sergio Gor as the new Ambassador to India. "We are negotiating a deal with India, which is significantly different from our previous arrangements. We're ensuring a fair agreement for all parties involved," Trump stated.

Later, when addressing journalists in the Oval Office, Trump was questioned about the status of the trade agreement with India and the possibility of reducing tariffs on Indian products. He remarked, "Currently, the tariffs on India are high, primarily due to issues related to Russian oil. However, India has significantly cut back on these oil imports, allowing us to consider reducing tariffs. At some point, we certainly intend to lower them," he concluded.