'Another deal coming up, maybe with India': Trump teases potential India-US trade pact

Prime Minister Narendra Modi and US President Donald Trump - File Photo

US President Donald Trump on Wednesday said the United States may soon strike another trade deal, this time possibly with India. He signalled that the ongoing negotiations between the two countries for an interim trade deal are on track and could be finalised soon.

During a bilateral meeting with Bahrain’s Crown Prince and Prime Minister at the White House, the US President suggested that a new trade agreement could soon be announced, saying, “maybe” another deal is on the way.

“We had one (deal) yesterday. We have another one coming up, maybe with India….,” Trump said.

#WATCH | Washington DC | US President Donald Trump says, "...We have another one (deal) coming up, maybe with India... We're very close to a deal with India where they open it up..."

"... We've brought in over $100 billion. The tariffs haven't kicked in that much, other than… pic.twitter.com/JD2FPiYcFM — ANI (@ANI) July 16, 2025

His comments came just a day after he told reporters that his administration was engaging with India on trade “similar lines” to what had been discussed with Indonesia.

Earlier today, Trump said the proposed trade agreement could grant American companies greater access to the Indian market, similar to the terms of the recently concluded US-Indonesia trade deal. The two sides -- India and the US -- have been in talks over the pact, with the primary goal of keeping tariff levels below 20 per cent.

Under the agreement with Indonesia, the US is gaining market access it previously lacked, Trump noted.

“That’s probably the biggest part of the deal… India is basically working along that same line. We are going to have access to India,” he said.

Washington has already sent formal communications to several countries outlining the reciprocal tariff rates that are expected to take effect from August 1.

Meanwhile, a team from India’s Commerce Ministry is currently in Washington for another round of negotiations on the proposed deal. However, India has adopted a firm stance on the US request for duty concessions on agricultural and dairy products. Notably, New Delhi has never offered tariff concessions in the dairy sector to any trading partner under a free trade agreement.

According to a Bloomberg report, India is aiming to secure a more competitive position than its regional counterparts by negotiating a tariff rate lower than what was agreed with Indonesia. Reports indicate that the Trump administration is considering offering India a tariff rate below 20 per cent.