US President Donald Trump on Thursday suggested that a “very big” trade deal with India may soon be on the horizon, signaling progress in bilateral trade negotiations during an address at the White House.
“I have a great deal with India,” Trump said, while referring to a series of successful trade negotiations under his administration. “We have one coming up, maybe with India. Very big one,” he added, hinting at a potentially landmark agreement following recent high-level talks between the two countries.
Trump, however, emphasised that the US won't enter trade agreements with every nation. “We're not going to make deals with everybody. Some we are just going to send them a letter, say thank you very much. You are to pay 25, 35, 45 per cent,” he said, suggesting a selective and assertive approach to trade policy.
The comment follows four days of closed-door discussions earlier this month, where negotiators from both nations reportedly discussed greater market access, tariff reductions, and the removal of non-tariff barriers. The US delegation was led by the Office of the US Trade Representative, while India’s team was headed by Rajesh Agrawal from the commerce ministry.
The goal of the ongoing negotiations is to scale bilateral trade from $190 billion to $500 billion by 2030.
Union Commerce Minister Piyush Goyal, speaking after the talks wrapped on June 10, confirmed that India and the US are working on a deal that is “fair and equitable” for both economies. “PM Modi and US President Trump met in February 2025... Both our leaders have decided to enter into a bilateral trade agreement which will be mutually beneficial for both the economies, businesses on both sides and the people of both countries,” Goyal said.
Echoing this optimism, US Secretary of Commerce Howard Lutnick had earlier stated that both countries were close to finalising an agreement that reflects their mutual interests.
During his White House remarks, Trump also referenced the newly signed trade pact with China, finalised the day prior. While he shared limited details, a White House official later revealed the deal primarily concerns rare earth mineral shipments from China to the US, as well as a new implementation framework under the Geneva agreement.
The US-China agreement comes after a prolonged period of strained trade relations between the two powers.