The United States could reach a trade deal with India that would help American companies compete in the South Asian country and face far lower tariffs, President Donald Trump said, while casting doubt on a possible deal with Japan.
Trump told reporters aboard Air Force One that he believed India was willing to lower barriers for American companies, which could pave the way for a deal that would avert the 26% tariff he announced on April 2, before pausing it until July 9.
“Right now, India is not taking anyone in. I think India will do it, and if they do, we will have a deal with lower, much lower tariffs,” he said.
Earlier, Treasury Secretary Scott Bessent told Fox News that the United States and India were moving closer to a deal that would reduce tariffs on American imports to the South Asian country and help India avoid a sharp increase in tariffs next week.
“We are very close with India,” Bessent told Fox News when asked about progress in trade talks.
Indian officials extended their visit to Washington last week until Monday to try to reach a trade deal with President Donald Trump’s administration and address remaining concerns on both sides, Indian government sources told Reuters.
