US-India Trade Deal: Latest Updates and Progress
President Trump Announces New Tariffs
US President Donald Trump has announced new tariffs for 14 countries. These countries include Thailand, Myanmar, Bangladesh, South Korea, and Japan. The new tariffs will take effect on August 1.
Current Trade Deal Discussions
President Trump shared his thoughts on the matter. He said, “We’ve talked to everyone. The process is complete. We’re ready to make deals. We’ll send letters to most countries. We welcome you to the United States. Here, you can be part of the greatest, most successful country ever.”
He also mentioned, “We’ve never seen numbers like this before. Investment is at an all-time high. We have over 90 countries to consider. Most of them will receive a letter. We’ve already made deals with the United Kingdom and China. We’re close to finalizing a deal with India as well.”
Tariff Letters and Upcoming Deadlines
Trump explained that letters would be sent to different countries. These letters will inform them about their new tariff rates. He stated, “Some rates might change slightly if there’s a good reason. We aim to be fair in this process.”
Regarding the August 1 deadline, Trump said, “It’s firm, but not completely set in stone. If countries call and want to discuss alternatives, we’re open to that.”
Recent Tariff Announcements
Trump has announced new 25% tariffs on Japan and South Korea. Similar tariff letters have been sent to other countries, including Bangladesh, Indonesia, and South Africa.
He cautioned that if trade deals aren’t finalized soon, US import duties will go back to the higher rates set in April.
India-US Trade Negotiations
Last month, Indian officials were in Washington. They had intense talks with US representatives to finalize the trade deal.
- In April 2025, Trump announced a 26% retaliatory tariff on Indian goods.
- He later reduced it to a 10% basic duty.
- This reduction is for a 90-day suspension period, starting from April 10.
