US President Donald Trump has recently said that the United States is very close to a big trade deal with India. In an interview with Real America's Voice on Wednesday, he shared that talks with India and the European Union (EU) are going well. However, he mentioned that talks with Canada are still unclear.
Deal Possible Before August 1
Trump said his government is trying to complete trade agreements with partners before August 1. After this date, the US plans to increase tariffs (import taxes) on most goods coming from other countries. He called the ongoing talks with India “positive” and said a full or temporary trade deal may be signed soon.
India’s Delegation Reaches Washington
A trade team from India has reached Washington to discuss the deal. If successful, the agreement could help India get better access to the US market. This would especially help India's agriculture and dairy sectors. The US government has suggested that India might face tariffs of less than 20 percent. This is much lower than the tariffs on countries like China (51 percent) and Bangladesh (35 percent).
Talks with EU and Canada
Trump also said a trade deal with the European Union could happen soon. He mentioned that the EU had earlier treated the US unfairly, but now they are ready to make a deal. EU trade head Maroš Šefčovič visited Washington on Wednesday to talk about tariffs.
With Canada, the situation is still not clear. Trump said the talks are slow. Canadian Prime Minister Mark Carney said no final deal has been made yet. Reports suggest that Canada is preparing to reply with its own tariffs if needed.
High Tariffs on Many Countries
Trump’s government has already shocked many by putting high tariffs:
Canada: 35 percent
Mexico and EU: 30 percent
Brazil: 50 percent
Now, Trump says he may impose 10 percent to 15 percent tariffs on around 150 countries. He believes this move will make the US economy stronger and reduce the trade deficit.
Possible Impact on India
If there is no trade deal, India could face a 10 percent tariff increase. India wants to protect its dairy and farming sectors. In return, it may open its markets to US products like textiles and footwear.
If the trade deal is finalised, India will face fewer tariffs than many other countries. This will help Indian exporters and improve trade ties between the two nations.
