In a fresh push to reshape America’s global trade relationships, US President Donald Trump on Thursday (US local time) signaled that a major trade agreement with India could be on the horizon, following the finalization of a new trade deal with China. Speaking at the Big Beautiful Bill event, Trump suggested that a large-scale India deal was in the pipeline.
"Everybody wants to make a deal and have a part of it. Remember a few months ago, the press was saying, 'You really have anybody of any interest? Well, we just signed with China yesterday. We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India, in the China deal, we are starting to open up China," Trump said, as reported.
He further explained that the US will not engage in trade agreements with every country, remarking, "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. That's the easy way to do it, and my people don't want to do it that way. They want to do some of it, but they want to make more deals than I would do," Trump added.
Reinforcing the strength of ongoing negotiations, he continued, "But we're having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India, in the China deal, we're starting to open up China. Things that never really could have happened, and the relationship with every country has been very good."
While President Trump did not outline specific terms of the deal with China, earlier in June, CNN reported that Washington and Beijing had successfully revived a stalled agreement first negotiated in Geneva, following months of high tariffs and trade tension. The trade truce has given temporary relief to global markets and businesses troubled by prolonged uncertainty.
Confirming this, Trump had posted emphatically on Truth Social, "Our deal with China is done," adding in all-caps that China would provide "full magnets, and any necessary rare earths...up front," under the framework hammered out in Geneva.
Meanwhile, momentum appears to be building on the India front as well. US Secretary of Commerce Howard Lutnick, speaking earlier this month at the US-India Strategic Partnership Forum, expressed strong confidence that a deal could be concluded soon. "I think to be in a very, very good place, and you should expect a deal between the United States and India in the not-too-distant future because I think we found a place that really works for both countries," Lutnick told reporters. When asked about his optimism, Lutnick replied, "It could be sort of the way I come across," indicating high confidence.
On India’s side, Union Commerce and Industry Minister Piyush Goyal had also voiced positivity about the path ahead. Addressing a press briefing regarding India-US and India-EU trade discussions, Goyal noted, "PM Narendra 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. We are negotiating to make a nice, fair, equitable and balanced agreement to promote business."
