‘Working on a deal which gives greater access to Indian markets,’ says Trump after Indonesia tariff pact
&imwidth=600&imheight=450&format=webp&quality=medium "‘Working on a deal which gives greater access to Indian markets,’ says Trump after Indonesia tariff pact")
US President Donald Trump
The trade data released by the commerce ministry on Tuesday showed that despite the 10% reciprocal tariff imposed by the US, India’s exports to the US have jumped by a healthy 22% in the April-June quarter, while imports from the country have increased by 12% during the same period.
US President Donald Trump said on Tuesday that America is working on a deal with India that gives it greater access to the Indian markets. Trump’s comments came on the back of a trade deal with Indonesia, which will face a reduced tariff rate of 19%. While sharing details of the deal with Indonesia, Trump said the US is working on a trade deal with India on similar lines.
“We made a deal with Indonesia. I spoke to their really great president...and we made the deal. We have full access to Indonesia, everything. As you know, Indonesia is very strong on copper, but we have full access to everything. We will pay no tariffs. They are giving us access into Indonesia, which we never had. That’s probably the biggest part of the deal...India is basically working along that same line.”
“We’re going to have access into India. You have to understand, we had no access to any of these countries. Our people couldn’t go in and now we’re getting access because of what we’re doing with the tariffs…,” Trump said.
Trump’s comments come at a time when a team of officials from India’s commerce ministry are in the US for trade deal talks. The officials arrived in the US on Monday and India’s chief negotiator Rajesh Agarwal is likely to reach Washington on Wednesday, said reports.
India’s Commerce Minister Piyush Goyal said recently that India-US trade deal talks are progressing at a ‘fast pace’. “Negotiations are going on at a very fast pace and in the spirit of mutual cooperation so that we can come out with a win-win trade-complementing agreement with the United States,” Goyal said.
As per reports, the Trump administration is mulling a trade deal in which India will likely face tariffs of less than 20%, down from the 26% announced by Trump in April.
Trump has set a fresh deadline of August 1, 2025 for reciprocal tariffs to be effective. Since last week, he has been sending tariff letters to various US trading partners, and over 20 countries have received a tariff letter.
