'Very close': Donald Trump on US tariff deal with India

New Delhi could be among the nations that would strike a deal with Washington before the August 1 deadline for the reciprocal tariffs.

Updated on: Jul 17, 2025, 05:03:57 IST

By HT News Desk

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US President Donald Trump on Thursday said that they are "very close" to a tariff deal with India. His remarks came hours after he said that another deal is coming "maybe".

If f India and the US fail to reach a tariff deal before August 1, then an additional 16 per cent reciprocal levy will be imposed on Indian goods. (Bloomberg)

Trump has been, for the last two days, hinting at the possibility of finalising a trade deal with India soon. New Delhi could be among the nations that would strike a deal with Washington before the August 1 deadline for the reciprocal tariffs.

In a Real America's Voice interview, Trump said, US is “very close to India tariff deal”.

Meanwhile, an Indian commerce ministry's team is in the US for another round of talks on the trade deal.

Earlier on Wednesday, the US announced a trade deal with Indonesia, under which Trump had cut down the 32 per cent tariff to just 19 per cent.

When asked about India, he said "something similar" would happen with India and a couple of other nations.

ALSO READ | In new deal, Trump keeps Indonesia tariff at 19%; country to buy 50 Boeing jets

"We made a terrific deal, he (Indonesian President) opened up the entire country to trade with the United States. We were not allowed to go in and trade. I think something similar would happen with India and we have a couple of others," Trump said, responding to a question about how many trade deals can be expected before August 1 deadline.

The talks over the bilateral trade agreement (BTA) between Indian and US officials have been going on since Monday. The discussions would reportedly come to an end on July 17.

Earlier this month, Commerce ministry Piyush Goyal said 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 finalised, properly concluded, and in the national interest.

If India and the US fail to reach a tariff deal before August 1, then an additional 16 per cent reciprocal levy will be imposed on Indian goods, adding to the 10 per cent baseline tariff that has already been levied.

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HT News Desk
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