US Trade Deal: US President Donald Trump said his administration might reach trade deals with some countries as early as this week, raising hopes for nations looking to avoid higher US import tariffs.
“It could very well be,” Trump told reporters on Sunday, when asked if any trade agreements were expected soon. He did not name any specific countries.
“We’re negotiating with many countries, but at the end of this, I’ll set my own deals — because I set the deal, they don’t set the deal,” Trump said on Sunday while speaking aboard Air Force One. “You keep asking the same question: ‘When will you agree?’ It’s up to me, it’s not up to them.”
Last week, Trump had said that the United States is eyeing "potential" trade deals with India, South Korea, and Japan.
India is one of several countries now in talks with the United States to avoid high import taxes announced by President Donald Trump. Most of these tariffs have been put on hold for now, but a basic 10% duty still applies, along with earlier tariffs of 25% on steel, aluminium, and car parts.
India’s Commerce Minister, Piyush Goyal, was recently in the United States. His visit is part of plans by President Trump and Prime Minister Modi to start work on the first part of a broad, mutually beneficial Bilateral Trade Agreement (BTA) by autumn 2025. Both leaders had agreed to appoint senior officials to take these talks forward.
US Vice-President J D Vance has called Prime Minister Narendra Modi a “tough negotiator” and accused India of taking advantage of America, while predicting that New Delhi could be among the first countries to reach a trade agreement aimed at avoiding US tariffs. The US vice president said there is a 'good negotiation' going on in India.
Vance said talks were also happening with Japan, South Korea, and “folks in Europe.”
Also Read: India, US trade deal coming soon even as Vance claims India ‘took advantage’ of America
India and the US are aiming for "early mutual wins" before finalising the first phase of their proposed bilateral trade agreement (BTA). They will start in-person meetings on different sectors at the end of May, the government said on Tuesday. This statement came after a team of Indian trade negotiators, led by chief negotiator and commerce secretary-designate Rajesh Agrawal, met their US counterparts during their visit to Washington from April 23 to 25.
Before the April meeting, India and US had reportedly finalised the terms of references (ToRs) for the proposed bilateral trade agreement that include around 19 chapters covering issues such as tariffs, goods, non-tariff barriers, and customs facilitation.
Trump’s broad tariff policies have caused global markets to fluctuate, raising concerns about an economic downturn and putting pressure on the US dollar. Last week, data from the Bureau of Economic Analysis showed that US gross domestic product shrank for the first time in three years.
Asian economies, facing some of the highest US “reciprocal” tariffs, have been leading trade talks with the Trump administration, ahead of Western countries. Japan’s chief trade negotiator, Ryosei Akazawa, hopes to reach a trade deal with the US by June, following the latest round of talks in Washington last week.
US, China trade talks?
Meanwhile, Trump on Sunday also indicated that his team is having talks with officials from China. Financial markets have steadied over the past two weeks, as signs show that discussions with Asian countries are moving forward and tensions between China and the US may ease.
China has been the main target of Trump’s tariff strategy, causing Beijing to respond with its own tariffs, which now reach up to 145% on US goods. China has recently suggested that relations may improve, while Trump told NBC News on Sunday that he is open to lowering US tariffs at some point.
When asked about it on Air Force One, Trump said he has no current plans to speak with Chinese President Xi Jinping.
Beijing confirmed last week for the first time that its authorities are talking to American officials about trade deals. Talks have already started with Trump’s team and several other countries, but senior officials still suggest they may eventually impose duties on trading partners.
“At a certain point, I’ll be just setting a certain tariff number,” Trump said Sunday. “At some point in the next two weeks or three weeks, I’m going to be setting the deal.”
“I’m going to say that such and such a country has had a tremendous trade surplus — surplus their way — with us and they’ve taken advantage of us in various ways, and we fully understand what they were doing,” he said.
“It could very well be,” Trump told reporters on Sunday, when asked if any trade agreements were expected soon. He did not name any specific countries.
“We’re negotiating with many countries, but at the end of this, I’ll set my own deals — because I set the deal, they don’t set the deal,” Trump said on Sunday while speaking aboard Air Force One. “You keep asking the same question: ‘When will you agree?’ It’s up to me, it’s not up to them.”
Last week, Trump had said that the United States is eyeing "potential" trade deals with India, South Korea, and Japan.
India is one of several countries now in talks with the United States to avoid high import taxes announced by President Donald Trump. Most of these tariffs have been put on hold for now, but a basic 10% duty still applies, along with earlier tariffs of 25% on steel, aluminium, and car parts.
India’s Commerce Minister, Piyush Goyal, was recently in the United States. His visit is part of plans by President Trump and Prime Minister Modi to start work on the first part of a broad, mutually beneficial Bilateral Trade Agreement (BTA) by autumn 2025. Both leaders had agreed to appoint senior officials to take these talks forward.
US Vice-President J D Vance has called Prime Minister Narendra Modi a “tough negotiator” and accused India of taking advantage of America, while predicting that New Delhi could be among the first countries to reach a trade agreement aimed at avoiding US tariffs. The US vice president said there is a 'good negotiation' going on in India.
Vance said talks were also happening with Japan, South Korea, and “folks in Europe.”
Also Read: India, US trade deal coming soon even as Vance claims India ‘took advantage’ of America
India and the US are aiming for "early mutual wins" before finalising the first phase of their proposed bilateral trade agreement (BTA). They will start in-person meetings on different sectors at the end of May, the government said on Tuesday. This statement came after a team of Indian trade negotiators, led by chief negotiator and commerce secretary-designate Rajesh Agrawal, met their US counterparts during their visit to Washington from April 23 to 25.
Before the April meeting, India and US had reportedly finalised the terms of references (ToRs) for the proposed bilateral trade agreement that include around 19 chapters covering issues such as tariffs, goods, non-tariff barriers, and customs facilitation.
Trump’s broad tariff policies have caused global markets to fluctuate, raising concerns about an economic downturn and putting pressure on the US dollar. Last week, data from the Bureau of Economic Analysis showed that US gross domestic product shrank for the first time in three years.
Asian economies, facing some of the highest US “reciprocal” tariffs, have been leading trade talks with the Trump administration, ahead of Western countries. Japan’s chief trade negotiator, Ryosei Akazawa, hopes to reach a trade deal with the US by June, following the latest round of talks in Washington last week.
US, China trade talks?
Meanwhile, Trump on Sunday also indicated that his team is having talks with officials from China. Financial markets have steadied over the past two weeks, as signs show that discussions with Asian countries are moving forward and tensions between China and the US may ease.
China has been the main target of Trump’s tariff strategy, causing Beijing to respond with its own tariffs, which now reach up to 145% on US goods. China has recently suggested that relations may improve, while Trump told NBC News on Sunday that he is open to lowering US tariffs at some point.
When asked about it on Air Force One, Trump said he has no current plans to speak with Chinese President Xi Jinping.
Beijing confirmed last week for the first time that its authorities are talking to American officials about trade deals. Talks have already started with Trump’s team and several other countries, but senior officials still suggest they may eventually impose duties on trading partners.
“At a certain point, I’ll be just setting a certain tariff number,” Trump said Sunday. “At some point in the next two weeks or three weeks, I’m going to be setting the deal.”
“I’m going to say that such and such a country has had a tremendous trade surplus — surplus their way — with us and they’ve taken advantage of us in various ways, and we fully understand what they were doing,” he said.
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