Trump Eyes Trade Deal with India, Potentially Impacting US Companies in South Asia

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2025-07-02 01:56:02

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President Donald TRUMP signaled a potential breakthrough in US-India trade relations, suggesting a deal could significantly reduce tariffs for American companies operating in South Asia. The agreement would likely delay previously threatened 26% tariffs, originally set to take effect in July. "Right now, India doesn't accept anybody in. I think India is going to do that. If they do that, we will have a deal for much fewer tariffs," Trump remarked aboard Air Force One.

Trade negotiations between the two nations had stalled over disagreements on import duties for auto parts, steel, and agricultural products. Treasury Secretary Scott Bessent indicated talks were nearing completion, potentially averting retaliatory measures. Indian officials extended Washington meetings this week to finalize terms.

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