Donald Trump: India-US trade deal is very close; Trump’s statement amid announcement of new tariffs on 14 countries

President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House in Washington, D.C.-| Photo Credit: AP

Trump’s announcement comes amid the announcement of new tariffs on 14 countries. US President Donald Trump has imposed 25 to 40 percent tariffs on seven countries including Japan and South Korea.

Washington DC: US President Donald Trump has made a big statement regarding the trade agreement with India. He said that America is very close to making a trade agreement with India. He said that we have done a deal with the United Kingdom. We have done a deal with China. Apart from this, we have met other countries, but we do not think that they will be able to make an agreement, so we have sent them a letter. We are sending letters to more countries, in which they are being told how much tariff they will have to pay. Some countries may make a little adjustment, but it will depend on whether they have any reason or not. He said that we will not behave unfairly about this.

During this, when he was asked whether he is firm on the August 1 deadline for US tariffs? Responding to this question, US President Donald Trump said that yes I am firm, but not 100 percent firm. If those countries, on which tariffs have been imposed, call and say that we want to do something differently, then we are ready for it.

Let us tell you that this announcement of Trump has come amidst the announcement of new tariffs on 14 countries. US President Donald Trump has imposed 25 to 40 percent tariffs on seven countries including Japan and South Korea. In this new tariff war, Trump took this step citing the persistent trade imbalance between the two countries. The rates will be effective from August 1. Along with this, he has also threatened to impose an additional 10 percent tariff on the BRICS countries.

How much tariff on whom
Country name Percentage (%)
Bangladesh 35%
Bosnia and Herzegovina 30%
Cambodia 36%
Indonesia 32%
Japan 25%
Kazakhstan 25 %
Laos 40%
Malaysia 25%
Myanmar 40%
Serbia 35%
Tunisia 25%
South Africa 30%
South Korea 25%
Thailand 36%
Trump announced tariffs on April 2
President Trump imposed retaliatory tariffs on most countries of the world on April 2. A 26 percent tariff was imposed on India. However, it was later postponed for 90 days so that all countries could enter into a new trade agreement with the US. A baseline tariff of 10 percent has been maintained on all countries. Trump’s 90-day deadline is ending on July 9. India wants complete exemption in 26 percent tariff.

During Prime Minister Narendra Modi’s visit to the US in February 2025, both countries had announced the start of negotiations for a bilateral trade agreement. For this, a deadline of September-October this year has been set. Before that, both countries are trying to reach an interim agreement to deal with Trump’s tariff.

Goyal has made it clear, national interest comes first in any deal

Commerce Minister Piyush Goyal had said on July 4, 2025 that India will not be bound by any trade agreement within the time limit. It will accept any trade agreement only if it is final, all conclusions have been drawn correctly and the agreement is in the interest of the country. A free trade agreement is possible only if it is beneficial for both parties. For us, national interest comes first. If any agreement is reached keeping this in mind, then India is always ready to enter into an agreement with developed countries.

India has not opened the agricultural sector for any country so far

A team of Indian trade negotiators went to the US and returned from there only last week. Sources say that there is a deadlock over tariffs on steel, aluminum (50 percent) and auto (25 percent). Apart from this, India has hardened its stand on not giving tariff exemption to American products in agriculture and dairy sectors because both these are very sensitive issues in India and the livelihood of crores of farmers is linked to them. Giving other countries an opportunity to enter these sectors can be disastrous for the farmers of the country. India has not opened its agricultural sector in a trade agreement with any country in the world before this.