Trump Hints at “Fair Deal” With India; Says India-US Deal Getting Close to Agreement

US President Donald Trump said on Monday that Washington is getting close to reaching a “fair deal” with New Delhi, which would expand trade and security relations between the two countries, boost US energy exports, and promote investments in key US sectors. "We're getting a fair deal, just a fair trade deal," Trump told reporters at the Oval Office. "We're making a deal with India — much different deal than we had in the past." Trump emphasised his optimism around the India-US deal and said, “We are getting close.”

Union Commerce and Industry Minister Piyush Goyal last week also confirmed that the trade negotiations were going “very well,” and that the envoys are acknowledging sensitive issues which may require more time to reach a mutually beneficial consensus, according to reports. However, both Washington and New Delhi signalled advancement despite the trade tariffs and the punitive tariff on Russian oil.

According to a report by Bloomberg, Trump also said he will reduce the tariffson Indian goods “at some point.” Reports suggest that Prime Minister Narendra Modi’s vow to wind down Russian crude purchases paved a smoother way for trade talks. “They’ve stopped doing the Russian oil — it’s been reduced very substantially,” Trump said on Monday. “Yeah, we’re going to be bringing the tariffs down, I mean at some point.”

Trump’s India Visit

Last week, Trump said that amid the ongoing high-stakes talks, he may visit India next year and called Modi “a friend” and “a great man.” However, it is unclear when his official visit will be scheduled. His remarks also come amid uncertainty about whether Trump will join the QUAD Summit, which is scheduled to be hosted next year, BBC reported.

Energy Sector to Power the Talks

India is the largest purchaser of Russian oil after China and has constantly defended New Delhi’s oil buys from Moscow, citing cheap availability to protect national consumer interests. The oil purchases have attracted a 25% punitive tariff from the US, pushing the Indian tariffs to a sweeping 50%. However, according to media reports, an Indian government spokesperson had previously signalled that the US administration had “shown interest in deepening energy cooperation with India.”

New Delhi and Washington have persistently shown commitment to strengthening bilateral ties, with Modi and Trump setting a target of $500 billion in trade from the current $190 billion.