Trump says US close to finalising India trade deal, hints at tariff cuts

US President Donald Trump indicated that Washington and New Delhi are nearing a new trade agreement, adding that tariffs imposed on India may be lowered in due course.

Trump made the comments while administering the oath of office to Sergio Gor, the new US Ambassador to India.

“We’re working on a deal with India, a very different one from before. They don’t love me right now, but they will again. We’re getting a fair deal. They negotiate well, so Sergio, you’ll have to take a close look. I think we’re close to something that works for everyone,” he said.

Tariff relief possible, says Trump
Later, speaking to reporters in the Oval Office, Trump was asked about the timeline and tariff policy linked to the proposed agreement.

“Tariffs are high right now because of the Russian oil issue, but that has come down substantially. Yes, at some point, we’ll be bringing the tariffs down,” he said.

Talks progressing but key issues remain

On November 5, Union Commerce Minister Piyush Goyal said discussions on the India–US bilateral trade deal were progressing, though several “sensitive and

serious issues” required further work.

Negotiators from both sides last met virtually on October 23. Five rounds of talks have been held since March for the first phase of the pact, which was originally targeted for completion by the autumn of 2025.