'Much less tariffs': Donald Trump hints at closing India-US trade deal soon; wants to make both sides competitive

US President Donald Trump reiterated on Tuesday (local time) that Washington and New Delhi are close to sealing a trade pact that would substantially lower existing tariffs, enabling both countries to compete on a more even footing.

“I think we are going to have a deal with India … and if they do that, we are going to have a deal for much less tariffs,” Trump told reporters.

Also read: Energy, agriculture and tariffs; what will be in the 'very big' pact

The talks centre on a Bilateral Trade Agreement (BTA) that negotiators are racing to conclude before the July 9 expiration of a 90‑day moratorium on proposed tariff hikes. The pause, in place since April 2, temporarily halted the re‑imposition of 26% reciprocal duties introduced by the Trump administration.

Indian officials have toughened their stand on farm‑sector issues as the high‑stakes discussions approach a decisive phase, government sources said on Monday.

Chief negotiator Rajesh Agrawal is leading the Indian delegation, which has extended its stay in Washington in a bid to bridge last‑minute gaps, as reported by ANI.

External affairs minister S Jaishankar has said government remains hopeful of reaching a trade deal with the US amid hardening of position by India on issues related to tariff cuts on agricultural products. "We are in the middle, hopefully more than the middle, of a very intricate trade negotiation. Obviously, my hope would be that we bring it to a successful conclusion", Jaishankar told Newsweek magazine". The comments coincided with White House spokesperson Karoline Leavitt saying the deal would happen very soon.

Also read: Talks enter sixth day as Donald Trump's tariff deadline looms; top things India is pushing for amidst hectic negotiations