financetom
Economy
financetom
/
Economy
/
US-India nearing trade deal as talks progress, commerce secretary says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US-India nearing trade deal as talks progress, commerce secretary says
Jun 3, 2025 1:01 AM

NEW DELHI, June 3 (Reuters) - Trade negotiations between

the United States and India are making progress and a deal could

be finalised soon, U.S. Commerce Secretary Howard Lutnick said

on Monday, as both sides push to conclude talks ahead of a July

deadline.

"You should expect a deal between United States and India

(in the ) not-too-distant future because I think we have found a

place that really works for both countries," Lutnick said at the

annual summit of the US-India Strategic Partnership Forum in

Washington.

Lutnick later posted a short video of his remarks on social

media platform X, saying "We have a great relationship between

the countries. I'm optimistic for a trade deal soon that will

benefit both nations."

Reuters reported earlier that the Trump administration had

asked trade partners to submit their best offers by Wednesday,

as officials work towards finalising several deals ahead of a

self-imposed July 9 deadline.

India's trade ministry declined to comment on the timeline.

However, Rajesh Agrawal, India's chief negotiator for talks

with the U.S., said last week that trade talks between the two

countries were progressing well, and that a "good outcome" was

expected soon.

A U.S. trade delegation is scheduled to visit New Delhi on

June 5-6 for further discussions.

An Indian team had visited Washington in April, and Trade

Minister Piyush Goyal also visited last month to push trade

talks.

Lutnick said Washington was seeking lower tariffs

particularly on agricultural products, greater market access for

U.S. firms, and increased purchases of defence equipment, with

an aim of reducing its trade deficit with India.

In return, it was prepared to expand access for Indian

exports.

"India is a very protectionist country," he said, noting

tariffs of up to 100% on some products. "We would like our

businesses to have reasonable market access."

He said strong ties between President Donald Trump and Prime

Minister Narendra Modi were helping ease negotiations.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US LNG output declines in May from April's record
US LNG output declines in May from April's record
Jun 2, 2025
HOUSTON (Reuters) -U.S. liquefied natural gas output fell in May due to plant outages and maintenance at the country's largest export facility, preliminary LSEG ship tracking data show. The U.S. is the world's largest LNG exporter and monthly changes in production can impact global LNG prices. In May the U.S. exported 8.9 million metric tons of LNG, down from a...
US-India nearing trade deal as talks progress, commerce secretary says
US-India nearing trade deal as talks progress, commerce secretary says
Jun 3, 2025
NEW DELHI, June 3 (Reuters) - Trade negotiations between the United States and India are making progress and a deal could be finalised soon, U.S. Commerce Secretary Howard Lutnick said on Monday, as both sides push to conclude talks ahead of a July deadline. You should expect a deal between United States and India (in the ) not-too-distant future because...
China's factory activity cools in May as US tariffs hit
China's factory activity cools in May as US tariffs hit
Jun 2, 2025
BEIJING (Reuters) - China's factory activity in May shrank for the first time in eight months, a private-sector survey showed on Tuesday, indicating U.S. tariffs are now starting to directly hurt the manufacturing superpower. The Caixin/S&P Global manufacturing PMI fell to 48.3 in May from 50.4 in April, missing analysts' expectations in a Reuters poll and marking the first contraction...
Jamie Dimon's 5 Most Recent Dire Warnings Include Recession, 'Panic' And Zero Growth
Jamie Dimon's 5 Most Recent Dire Warnings Include Recession, 'Panic' And Zero Growth
Jun 2, 2025
JPMorgan Chase & Co. ( JPM ) CEO Jamie Dimon has sounded the alarm on a series of mounting threats facing the U.S. economy in a string of recent interviews and public appearances. Dimon has cautioned that Wall Street's optimism may be misplaced, predicting zero or even negative growth ahead, a potential crack in the bond market and mounting fiscal...
Copyright 2023-2026 - www.financetom.com All Rights Reserved