Trump hints at potential major trade deal with India post-China agreement

After signing a trade deal with China, US President Donald Trump hinted at a major agreement with India during a White House event. Trump mentioned the possibility of a 'very big' deal with India, emphasizing the opening up of trade relations. He expressed interest in deepening economic ties with India, the world's fifth-largest economy. However, Trump clarified that not all countries would receive deals, hinting at selective negotiations based on tariffs.

US Secretary of Commerce Howard Lutnick also expressed optimism about a potential US-India trade agreement, highlighting the common ground between the two countries. Meanwhile, Indian Commerce and Industry Minister Piyush Goyal confirmed ongoing discussions for a fair and balanced trade deal that would benefit both nations. The agreement may focus on improving market access, reducing tariffs, and facilitating investment and services.

The negotiations between India and the US come in the context of previous friction over tariffs, digital trade rules, and agricultural exports. Both countries aim to strengthen their economic partnership amidst evolving global supply chains and strategic competition with China. If successful, this trade agreement could signify a significant development in US-India trade relations, overcoming past tariff disputes.

According to the source: Moneycontrol.