US President Donald Trump has indicated that there is a big trade agreement with India in the offing, after the two nations held recent high-level talks. Addressing the 'Big Beautiful Event' at the White House on Thursday, Trump hinted at a deal that could be coming soon.
"Everyone wants to make a deal and have a piece of it. Recall a few months back, the media was reporting, 'You really have anybody of any interest?' Well, yesterday we signed with China. We are making some fantastic deals. We have one in the pipeline, possibly with India. Very big one," Trump explained.
Although the President was bullish about the possibility of the deal with New Delhi, he was quick to add that not all countries were going to be extended such offers.
"We're not going to negotiate with everyone. Some we are going to just send them a letter, thank you very much. You are to pay 25, 35, 45 per cent. That's the easy way to do it, and my people don't want to do it in that fashion. They want to do some of it, but they want to make more deals than I would do," he stated.
This comes after a four-day closed-door trade talks session conducted last week, where both countries' officials debated lessening the trade obstacles, greater market access for industrial and agricultural products, and tackling tariffs and non-tariff issues. The U.S. delegation was headed by officials from the Office of the U.S. Trade Representative, with senior commerce ministry official Rajesh Agrawal leading India's team.
As per insiders in the discussions, the trade agreement is intended to greatly increase the bilateral trade per year—from the current $190 billion to a target of $500 billion by 2030.
After the talks ended on June 10, Indian Commerce and Industry Minister Piyush Goyal asserted that the two countries were actively engaged in a balanced and mutual good trade agreement.
PM Modi and US President Trump sat down in February 2025. Both our leaders have agreed to sign a bilateral trade agreement which will be beneficial for both the economies, businesses on both sides and the people of both nations. We are negotiating to make a good, fair, equitable and balanced agreement to facilitate business," Goyal said.
U.S. Commerce Secretary Howard Lutnick also indicated breakthrough during the first week of this month, stating that both sides were close to agreement and that a formal agreement would soon be announced.
Trade Deal with China Also Sealed
As part of the same event, Trump announced that he had signed a trade deal with China a day prior. Although he provided little detail, a White House official later attested that the agreement is mostly about the expedited shipment of Chinese rare earth materials to the United States.
The two countries also agreed informally on another pact to establish a framework for putting the Geneva accord into action—an initiative viewed as a step towards stabilizing economic relations that had cooled over recent months amid heightened tensions.
The new trade pact is a sign of a possible thaw following a spell of near-paralysis in U.S.-China trade, promising more stable economic engagement in the future.
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