Washington: President Donald J. Trump has said that the United States is close to finalizing a “fair trade deal” with India, signaling a new phase in economic ties between the two countries. Speaking at an event in Washington during the swearing-in of Sergio Gor as the new U.S. Ambassador to India, Trump said the agreement aims to strengthen trade relations and reduce tariffs on Indian goods entering the American market.
“They don’t love me, but they will love us again,” Trump said with a smile, suggesting that both sides are working toward a better understanding after years of trade differences. He added that the U.S. is preparing a deal that will be “very different and much fairer than before,” reflecting his administration’s efforts to balance trade relations.
The U.S. President hinted that tariffs on Indian imports will soon be lowered. He mentioned that high tariffs had been partly linked to India’s earlier purchase of Russian oil but noted that the situation has now improved as India has cut down those imports. “We are going to bring the tariffs down,” Trump said.
In New Delhi, India’s Commerce and Industry Minister Piyush Goyal confirmed that talks are progressing positively but noted that some “sensitive and serious issues” remain. He said both sides are taking careful steps to ensure the agreement benefits workers, consumers, and industries in both nations.
The proposed bilateral trade agreement is expected to boost overall trade between the two countries. Officials have set a goal of increasing trade from the current level of around 191 billion dollars to 500 billion dollars by 2030.
Negotiations between Washington and New Delhi have been underway since early 2025, with several rounds of talks already completed. While a final deal has not yet been signed, both sides hope to conclude the first phase by the end of this year.
The agreement could bring significant economic benefits. For India, reduced U.S. tariffs could make Indian goods more competitive in the American market. For the United States, it could provide better access for American exports and address long-standing concerns about trade barriers.
Experts say the trade deal would also strengthen the strategic partnership between the two democracies, especially in technology, defense, and supply chain sectors. However, they warn that agriculture, digital trade, and intellectual property rules remain key areas of negotiation.
Both countries are aiming to complete the deal soon, but officials on both sides agree that meaningful progress must be made to ensure long-term economic stability and mutual trust.