Trump Says Deal With India For 'Access To Indian Markets' Close: 'Have Some Pretty Good Deals To Announce'

(MENAFN- Live Mint) United States President Donald Trump said on Wednesday, July 16, that American was close to finalising a trade deal with India. He said the trade deal with India, that he says would give the US access to the Indian markets, would be finalised soon.

“We have some pretty good deals to announce,” he said.“The big one really is going to be on the 150 countries that we're really not negotiating with, and they're smaller – we don't do much business with. We have another deal coming up maybe with India,” Donald Trump said.

Trump said the proposed deal could provide American companies greater access to the Indian market in line with the trade pact between the US and Indonesia. Mentioning India, the US president said his administration is going to announce a few other trade deals.

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Donald Trump has claimed that Indonesia was giving America the access to the country under their trade deal. Trump said the trade deal with India was“along the same lines”.

He said,“That's probably the biggest part of the deal...India is basically working along that same line. We are going to have access to India .”

Washington has already sent letters to several countries sharing details of reciprocal tariff rates that would come into effect on August 1. New Delhi hopes it will be able to strike a deal with the US to avoid the reciprocal tariffs.

But before the trade deal could be finalised, India had indicated that the country would not enter a deal in a hurry and would will negotiate on its own terms.

“India discusses on its own terms and we never make a trade deal based on a timeline; when the deal is good, fully matured, and in the national interest, then we accept it,” Union Minister Piyush Goyal had said.

“It should be a win-win agreement, and only when India's interests are safeguarded, national interest will always be supreme and keeping that in mind, if a good deal is formed, India is always ready to engage with developed countries.”

(With agency inputs)

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