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04-06-2025
Bureau Report
NEW DELHI: Trade negotiations between the United States and India are making progress and a deal could be finalized soon, US Commerce Secretary Howard Lutnick said on Monday, as both sides push to conclude talks ahead of a July deadline.
“You should expect a deal between United States and India (in the) not-too-distant future because I think we have found a place that really works for both countries,” Lutnick said at the annual summit of the US-India Strategic Partnership Forum in Washington.
Lutnick later posted a short video of his remarks on social media platform, saying “We have a great relationship between the countries. I’m optimistic for a trade deal soon that will benefit both nations.”
Media reported earlier that the Trump administration had asked trade partners to submit their best offers by Wednesday, as officials work towards finalizing several deals ahead of a self-imposed July 9 deadline.
India’s trade ministry declined to comment on the timeline.
However, Rajesh Agrawal, India’s chief negotiator for talks with the US, said last week that trade talks between the two countries were progressing well and that a “good outcome” was expected soon.
A US trade delegation is scheduled to visit New Delhi on June 5-6 for further discussions.
An Indian team had visited Washington in April, and Trade Minister Piyush Goyal also visited last month to push trade talks.
Lutnick said Washington was seeking lower tariffs particularly on agricultural products, greater market access for US firms and increased purchases of defence equipment, with an aim of reducing its trade deficit with India.
In return, it was prepared to expand access for Indian exports.
“India is a very protectionist country,” he said, noting tariffs of up to 100% on some products. “We would like our businesses to have reasonable market access.”
He said strong ties between President Donald Trump and Prime Minister Narendra Modi were helping ease negotiations.
Earlier, trade talks between India and the United States are progressing well, New Delhi’s chief negotiator said on Thursday, adding that he expects a good outcome soon.
New Delhi is seeking to clinch a trade deal with Washington within the 90-day pause on tariff hikes announced by President Donald Trump on April 9 for major trading partners, which includes a 26% tariff on imports from India.
“We are progressing well and hopefully even in these tough times, we’ll be able to navigate and come out with good outcomes sooner than later,” Rajesh Agrawal, India’s Chief Negotiator for talks with the US, said at an event in New Delhi.
Meanwhile, the Trump administration wants countries to provide their best offer on trade negotiations by Wednesday as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, according to a draft letter to negotiating partners seen by media.
The draft, from the office of the United States Trade Representative, provides a window into how President Donald Trump plans to bring to a close unwieldy negotiations with dozens of countries that kicked off on April 9 when he paused his “Liberation Day” tariffs for 90 days until July 8 after stock, bond and currency markets revolted over the sweeping nature of the levies.
