A very big trade deal with India soon, Donald Trump gave an update; Agreement with China also finalised
In April
US President Donald Trump had announced to impose reciprocal tariffs on many major economies of the world including India and China. However, later Trump gave these countries a grace period of 90 days. This period is ending on 8 July.
India-US trade deal: US President Donald Trump has given a big update on the possible trade agreement between the US and India. Trump said on Thursday that a very big trade deal will soon be finalized with India. During this, Trump also announced that the US has signed a trade agreement with China. Let us tell you that in April, Trump had given a 90-day deadline to do a trade deal with the US. This period is ending on 8 July.
Speaking at an event held at the White House on Thursday, Trump said, “We have just signed a trade deal with China. We are not going to deal with everyone. But we are making some great deals. We are going to make another deal, with India, a very big deal.”
What is in the deal with China?
Trump further said, “We are making an agreement with India. With China too. We are doing things that could never have happened. Our relations with these countries have been very good.” However, Trump did not give much information about the deal with China during this time. It is worth noting that after the trade war started between China and America in April, everyone’s eyes are fixed on this deal.
No agreement with all countries
Donald Trump also said during this time that America will not make an agreement with all countries. He said, “We are not going to make a deal with everyone. We will just send a letter to some countries and say thank you very much. You will have to pay 25, 35, 45 percent tax. However, America is willing to make a deal.”
India-US Trade Deal
Earlier this month, speaking at the US India Strategic Partnership Forum, US Commerce Secretary Howard Lutnick had said that a trade deal could be finalised between India and the US. On June 10, Union Commerce and Industry Minister Piyush Goyal had informed that India and the US are negotiating a fair trade deal, which will benefit both countries.
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