Close to making deal with India: Trump amid new tariff announcements

Washington, July 8 (IANS) In a significant development on the global trade front, US President Donald Trump has stated that the United States is “close to making a deal with India”, even as Washington moves ahead with imposing fresh tariffs on several countries.

Trump made the remarks during a White House briefing on Tuesday, where he outlined the administration's evolving trade strategy.

“We've made a deal with the United Kingdom, we've made a deal with China, we've made a deal -- we're close to making a deal with India... Others we met with, we don't think we're going to be able to make a deal. So we just send them a letter,” President Trump said.

His comments came as the US began issuing formal notices to a number of key trading partners -- including South Korea, Japan, Thailand, and Bangladesh -- notifying them of impending tariff increases set to take effect from August 1.

These letters mark the beginning of what the administration has described as a broader recalibration of trade relationships aimed at levelling the playing field for American producers.

“We're sending out letters to various countries telling them how much tariffs they have to pay. Some will maybe adjust a little bit depending if they have a cause, we're not going to be unfair about it,” Trump added.

The US-India trade talks have seen momentum in recent months, with negotiators from both sides working to finalise a limited deal focused on tariff reductions. However, key sticking points remain, particularly regarding market access to India’s agricultural and dairy sectors. These areas are politically sensitive in India, where agriculture sustains nearly half of the population despite contributing only 16 per cent to the economy.

Concerns over food safety and the livelihoods of rural communities have made New Delhi reluctant to open these sectors, a stance consistent with its policy of excluding agriculture from most free trade agreements.

In return, India is pressing for lower US tariffs on its labour-intensive exports such as leather goods, garments, and footwear, key industries that support millions of jobs in the country.

--IANS

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