President Donald Trump hinted at a major trade breakthrough with India on Monday, revealing that Washington and New Delhi are close to finalizing a fair and balanced trade agreement. Speaking at the Oval Office during the swearing-in of Sergio Gor as the new US Ambassador to India, Trump confirmed that the US would soon reduce tariffs on Indian goods as part of the ongoing negotiations.
“We’re making a deal with India—something very different from before,” Trump said. “Right now, they don’t love me, but they will love us again. We’re closing in on a fair deal that benefits everyone.”
The President noted that discussions between both sides had progressed significantly, praising India’s skilled negotiators while expressing confidence that Ambassador Gor would further advance bilateral cooperation.
When asked by reporters about potential tariff reductions, Trump explained that high tariffs had been imposed partly due to India’s previous purchases of Russian oil. “That’s changed now—they’ve reduced it substantially. Yes, we’re going to be bringing tariffs down,” he said, suggesting a phased easing in the coming months.
Trump also highlighted India’s growing global role, calling it “one of the world’s oldest civilizations and the largest country by population.” He spoke warmly of Prime Minister Narendra Modi, describing their rapport as “fantastic,” and credited Ambassador Gor with fostering stronger ties with the Indian leader.
The remarks came as trade talks between the two nations gained renewed momentum. On November 5, India’s Commerce Minister Piyush Goyal confirmed that negotiations for the India–US Bilateral Trade Agreement were “going on very well,” although he acknowledged that “sensitive and serious issues” still required time to resolve.
Proposed in February 2025, the deal aims to more than double annual trade from $191 billion to $500 billion by 2030. Five rounds of discussions have already taken place, with negotiators targeting a first-phase signing by year-end. Delegations led by Goyal and US Assistant Trade Representative Brendan Lynch have conducted multiple rounds in Washington and New Delhi, describing the exchanges as “positive and forward-looking.”
If finalized, the agreement could mark one of the most significant trade milestones between the two democracies, strengthening economic cooperation and reinforcing their strategic partnership for the next decade.
