US President Donald Trump has signalled the possibility of a “very big” trade deal with India, just days after finalising an agreement with China. Speaking at the “Big Beautiful Bill” event at the White House, Trump said, “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.”
His remarks indicate momentum toward a long-anticipated bilateral trade pact, as high-level negotiations are currently underway in Washington. An Indian delegation led by chief negotiator Rajesh Agarwal is in talks with US officials to finalise the agreement before the crucial July 9 deadline—the day when a suspended 26% retaliatory tariff on Indian goods could be reinstated. These tariffs, announced on April 2, would be added to the existing 10% duty unless a deal is reached in time.
The proposed agreement aims to cover multiple areas, including market access, tariff reduction, digital trade, pharmaceuticals, and intellectual property rights. The US is seeking greater concessions from India on industrial goods, electric vehicles, wines, petrochemical products, dairy, and agricultural items. Meanwhile, India is pushing for tariff relief for its labour-intensive sectors such as textiles, garments, gems and jewellery, leather goods, plastics, chemicals, and select farm produce.
Although Trump did not reveal the details, officials from both nations have expressed confidence in achieving a fair and mutually beneficial deal. Indian Commerce Minister Piyush Goyal confirmed that the negotiations are focused on deepening the strategic partnership and expanding bilateral trade volumes.
With current bilateral trade standing at $190 billion, both sides hope to increase that figure to $500 billion by 2030. The White House has also hinted that the July 9 deadline may be extended to accommodate a more comprehensive and politically balanced agreement, if required.