Trump Announces Landmark Tariff-Free Trade Deal with India
President Donald Trump announced that India has proposed a tariff-free trade deal with the United States. This offer comes as India seeks to finalize the agreement within a 90-day tariff hike pause. The U.S., India’s largest trading partner, currently has a trade surplus in India's favor.
U.S. President Donald Trump revealed on Thursday that India has extended an offer for a trade deal that includes 'no tariffs'. This move aims to secure an agreement with the U.S. during the 90-day suspension period on tariff increases, which Trump announced on April 9.
The changes come in response to the previous 26% tariff imposed on India, making it challenging for American goods to penetrate the Indian market. During a meeting with business executives in Doha, Trump noted the difficulty of selling in India while emphasizing the importance of this offer from New Delhi.
The United States remains the largest trading partner of India, with bilateral trade reaching approximately $129 billion in 2024. Currently, India enjoys a $45.7 billion trade surplus with the U.S., highlighting the significance of this proposed trade deal.
(With inputs from agencies.)
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