8 July 2025 : Even as he slapped fresh tariffs on 14 countries, US President Donald Trump on Tuesday said the country was close to making a trade deal with India.
“We made a deal with the United Kingdom, we made a deal with China, we’re close to making a deal with India,” Trump said, adding letters stating fresh tariffs were sent to other countries.
“Others we met with, and we don’t think we’re going to be able to make a deal, so we just send them a letter,” he said.
His remarks came after he announced new trade measures with countries, including Bangladesh, Thailand, South Korea and Japan, to come into effect starting August 1.
“We’re sending out letters to various countries telling them how much tariffs they have to pay. Some will maybe adjust a little bit depending if they have a cause, we’re not going to be unfair about it,” the US President said.
Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Japan, Kazakhstan, Laos, Malaysia, Myanmar, Serbia, Tunisia, South Africa, South Korea and Thailand are the countries named in Trump’s “wave of letters” detailing fresh tariffs.
The worst-hit have been Myanmar and Laos, with 40 per cent tariffs charged.
Trump’s remarks on a possible trade deal between the US and India came days after week-long talks between negotiators of both countries in Washington.
It was earlier reported that the countries could arrive at some tangible outcomes before July 9, the deadline for the imposition of tariffs earlier set by Trump.
Union Minister Piyush Goyal also said last week that India was ready to make trade deals with the US in the national interest. However, he had emphasised that this won’t happen under pressure from any deadline.
However, with the announcement of fresh tariffs, Trump is now set to sign an executive order delaying the July 9 deadline to August 1.
“I would say firm, but not 100% firm. If they call up and they say we’d like to do something a different way, we’re going to be open to that,” Trump said when asked if the deadline for the tariffs was firm.
However, India reportedly modified its demand for protect its farmers. “The livelihoods of millions of farmers are at stake as they could not compete with America’s commercial-scale dairy farms,” a person familiar with the discussions had earlier said.
India continues to resist fully opening its agricultural sector, especially regarding genetically modified (GM) crops and dairy products.
India had originally sought withdrawal of all retaliatory tariffs — a 10% baseline tariff currently imposed, and an additional 16% country-specific tariff before the deadline, announced by Trump on April 2.
Summary:
Donald Trump announced fresh tariffs for 14 countries effective August 1, while claiming the U.S. is nearing a trade deal with India—following earlier agreements with the UK and China.