Jaishankar CONFIRMS India-US Trade: Modi & Trump to Finalize Bilateral Agreement by Fall, 2025
Video Credit: Oneindia - Duration: 03:16s - Published
Jaishankar CONFIRMS India-US Trade: Modi & Trump to Finalize Bilateral Agreement by Fall, 2025
External Affairs Minister S.
Jaishankar revealed that India and the US had a "very open discussion" on trade, leading to an agreement between PM Narendra Modi and President Donald Trump to finalize a bilateral trade deal by fall this year.
Speaking at an event in Delhi with Kyung-wha Kang of Asia Society, Jaishankar emphasized the active and intense trade discussions between both nations.
He also highlighted Union Minister Piyush Goyal’s visit to the US in February and noted the strengthening of defense ties, with the US becoming more open to technology partnerships.
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U.S. President Donald Trump has hinted at a possible trade deal with India but warned of steep tariffs if no agreement is reached by August 1. Calling PM Modi a "friend," Trump criticized India’s high tariffs on U.S. goods, threatening 20–25% duties if talks stall. The U.S. had earlier imposed a 26% tariff, now suspended during negotiations. With the fifth round of trade talks just concluded, officials say discussions continue as the deadline nears, with another round slated for August 25.
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President Donald Trump has reignited global trade tension by declaring that the U.S. can “do whatever we want” as the July 8 deadline on reciprocal tariffs approaches. The 90-day pause on steep U.S. import duties—affecting several nations—is set to expire soon, with Trump refusing to confirm adherence to any deadline. While the EU faces a 50% tariff threat by July 9, Trump hinted flexibility, echoing his stance that America will act in its best interest. Amidst this uncertainty, Trump teased a “very big” trade deal with India, stating the U.S. has finalized partial deals with China and the UK and is working on opening India’s trade structure. Commerce Secretary Howard Lutnick and Indian Minister Piyush Goyal have confirmed negotiations are progressing. Trump suggested letters may soon be sent to over 200 nations outlining revised U.S. trade terms. The trade battlefield is heating up again—with Trump in full control.
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