Aboard Air Force One on 1/7, President Trump expressed confidence that India is prepared to lower trade barriers for American companies. This could pave the way for an agreement preventing retaliatory 26% tariffs set to take effect on 9/7.
"India is not open yet. I think if they change, we'll have a deal with much lower tariffs," he stated.
Earlier, Commerce Secretary Scott Bessent told Fox News that the US and India are nearing a reciprocal tariff reduction agreement. "We are very close," Bessent affirmed.
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President Trump during a press conference at the White House, 27/6. Photo: AP |
President Trump during a press conference at the White House, 27/6. Photo: AP
Indian officials extended their visit to Washington into this week to strive for an agreement with the Trump administration, according to Reuters sources. A White House official also revealed that the US government is prioritizing trade deals with several countries, including India, as deadlines approach.
Negotiations between the US and India are currently stalled over tariffs on auto parts, steel, and agricultural products. On 1/7, Indian Foreign Minister Subrahmanyam Jaishankar stated at an event in New York, "We are in the middle, hopefully a little bit more than the middle, of a very complicated trade negotiation. I certainly hope for a successful conclusion. But I cannot prejudge, because it’s a two-way discussion." He emphasized that "it will require give and take" from both sides to find common ground.
Meanwhile, President Trump continued to voice his frustration with the difficulties in negotiating with Japan. "We’re negotiating with them. Not sure we can make a deal. I doubt it," Trump said.
Previously, he indicated he wasn't considering extending the tariff postponement. The US will send letters to each country notifying them of the tariffs they will face starting 9/7. Trump suggested the possibility of imposing 30-35% tariffs on Japanese goods, significantly higher than the 24% he announced on 2/4.
The president explained that Japan continues to refuse to purchase American rice, despite Washington's requests. Trump believes this should be "very easy" for Japan, while they sell millions of cars to the US.
"So, I will be writing them a letter, thanking them and saying that we understand you cannot do what we need, and therefore you will be paying tariffs of 30%, 35%, or whatever we decide," he said.
So far, the US has only reached a minor trade agreement with the UK. Under the agreement, the UK accepts a 10% tariff on various goods, including cars, to access the US market.
Ha Thu (Reuters)
