Trump Talks Tough, Teases India Trade Deal Ahead of July 9 Tariff Deadline

U.S. President Donald Trump has signaled that a bilateral trade deal with India is imminent, while firmly ruling out any extension of the July 9 deadline for Japan to avoid steep tariff hikes. Speaking to reporters, Trump said, “I think we are going to have a deal with India. It’s going to be a different kind of deal—with much less tariffs.”

 

The comments come as high-level negotiations between India and the U.S. intensify in Washington. The Indian delegation, led by Chief Negotiator Rajesh Agrawal, has extended its stay to finalize an interim agreement that could avert the 26% reciprocal tariffs set to resume if no deal is reached by the deadline.

 

Key Highlights:

 

- Trump reiterated that India is ready to lower trade barriers, especially in sectors like agriculture and tech.

- The U.S. is pushing for reduced duties on apples, tree nuts, and GM crops, while India seeks greater access for textiles, gems, and seafood.

- Trump dismissed the possibility of a Japan deal, calling Tokyo’s trade stance “very tough” and “spoiled.”

- The July 9 deadline marks the end of a 90-day pause on tariffs first imposed in April.

- U.S. Treasury Secretary Scott Bessent confirmed both sides are “very close” to a deal that would boost American exports and ease market access.

 

With the Senate recently passing Trump’s “Big Beautiful Bill,” the administration is keen to notch another win on the global trade front—this time with India.

 

Source: Economic Times, Business Standard, Financial Express