India, a trade trendsetter? Is Trump planning to use India-US trade deal as a global template?

US President Donald Trump's team privately alerted Wall Street executives about a possible trade deal between India and the US, a Fox Business journalist reported, revealing some other key details. 

This comes just a few days after US President JD Vance, during his visit to India, indicated that the US and India had finalised "terms of reference" for a potential tariff deal. 

Vance made the big announcement the day after meeting with Indian Prime Minister Narendra Modi, saying that it sets a roadmap towards a final deal between the two nations.

"We are especially excited to formally announce that America and India have officially finalised the terms of reference for the trade negotiation. I think this is a vital step towards realising President Trump's and PM Modi's vision because it sets a roadmap toward a final deal between our nations. I believe there is much that America and India can accomplish together," he said.

Fox Business Correspondent Charles Gasparino posted on X, claiming that people inside the White House are alerting Wall Street executives that they are nearing an agreement in principle on trade with India. 

He further highlighted that if it holds, the India deal being envisioned will "include agreed upon goals, and issues that have been addressed and resolved as well as a deadline for the fully-baked trade pact."

Moreover, "It could be used as a template for a deal with Japan, South Korea, and Australia, my sources add," Gasparino said on X. 

SCOOP: People inside the Trump White House are alerting Wall Street execs they are nearing an agreement in principle on trade with India, according to my sources who are senior Wall Street execs w ties to the White House. No details on timing, and recall that we have been here…

Moreover, US Treasury Secretary Scott Bessent also suggested that India is likely to be the first country to finalise a bilateral trade agreement with the US. 

Bessent said that reaching a deal with Indians is much easier and has very little government subsidies. 

"India also has fewer non-tariff trade barriers, obviously, no currency manipulation, very, very little government subsidies, so that reaching a deal with the Indians is much easier," Bessent told reporters. 

Also read: PM Modi, US VP JD Vance hail 'significant progress' in India-US trade talks during vital New Delhi meeting