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'Trade deal with India coming, maybe': Donald Trump on tariffs
Trump did not include India in the ‘wave of letters’ with tariff ultimatum he sent to 14 countries , including Japan, South Korea, Myanmar and Bangladesh
United States President Donald Trump has hinted at reaching a trade deal with India soon. Speaking about trade deals, he said that “another deal is coming”, referring to India, but then added a “maybe”, Reuters reported.
"We have some pretty good deals to announce," Trump said and added that with Japan, US will probably "live by the letter".
Trump's latest remarks come at a time when a team from Indian's commerce ministry is in the US for another round of talks on the trade deal.
Commerce minister Piyush Goyal said earlier this month that India does not enter into any trade agreement based on deadlines and will accept the proposed trade deal with the US only when it is fully finalised, properly concluded, and in the national interest, a PTI report said.
Trump had earlier this week indicated that ongoing negotiations between India and the US are on track.
As for Indonesia, as part of the deal, it is giving the US access to the country, which we never had, Trump said. “We have full access into Indonesia", adding that India is working "on same line", he said then.
Also read: In new deal, Trump keeps Indonesia tariff at 19%; country to buy 50 Boeing jets
“Indonesia was great. He (Prabowo Subianto) is a great president and we made a terrific deal where they opened up the entire country to trade with the United States. We weren’t allowed to go in and trade (before). I think something similar will happen, I would say, with India,” he said.
Should India and the US fail to reach a deal, an additional 16% reciprocal tariff will be imposed on Indian goods starting August 1, adding to the 10% baseline tariff already being levied. The deadline may, however, be extended as negotiations continue.
What's the deal with Indonesia?
Trump has announced that Indonesian goods would face a 19% tariff when exported to the US, while US exports to the Southeast Asian country would face no tariffs — an asymmetric arrangement favouring America.
Indonesia initially received a tariff letter stating that the country’s goods would face a 32% American tariff starting on August 1 if an agreement was not reached, before concluding the deal that reduced this to 19%.
“As part of the Agreement, Indonesia has committed to purchasing $15 Billion Dollars in US Energy, $4.5 Billion Dollars in American Agricultural Products, and 50 Boeing Jets, many of them 777’s,” Trump wrote on his social media platform Truth Social.
