Trump optimistic about trade deal with India, says tariff talks 'going great'

Trump optimistic on trade deal with India, calls tariff talks positive.

US President Donald Trump said that tariff talks with India were "going great" and suggested there was a possibility the two nations could reach a deal. "Talks with India on tariffs were coming along great, and he thinks the two countries will reach a deal," Trump was quoted as saying by Reuters.

India and the US are working towards securing “early mutual wins” in their efforts to finalize key components of a proposed bilateral trade agreement (BTA) before the targeted deadline of September-October, according to a statement from the Indian government on Tuesday.

Earlier, US Commerce Secretary Howard Lutnick in an interview to CNBC said that he had secured an agreement with one foreign nation that could permanently alleviate the "reciprocal" tariffs President Donald Trump intends to impose. Lutnick did not disclose the name of the country, stating that the deal is still awaiting local approvals. However, reports suggest his comments may be referring to India.

"I have a deal done ... but I need to wait for their prime minister and their parliament to give its approval," Lutnick said.

On April 10, the United States temporarily suspended additional tariffs on Indian exports for a period of 90 days, until July 9. This move came as trade talks between Washington and New Delhi, which have shown signs of progress, continue.

On April 2, US President Trump imposed universal tariffs on goods from 60 countries, including a 26% tariff on Indian exports. The tariffs aimed to reduce the US trade deficit and boost domestic manufacturing. India was significantly impacted, with the duties affecting products like shrimp and steel.

Amid these tariff discussions, President Trump also signed a new executive order on Tuesday aimed at addressing growing challenges in the US automotive supply chain, as reported by Reuters.