WASHINGTON: US President Donald Trump on Monday said the United States was close to reaching a deal with India that would strengthen economic and security ties between the two countries, boost US energy exports and promote investment in key US sectors.
“We’re getting a fair deal, just a fair trade deal,” Trump told reporters in the Oval Office during the swearing-in of his envoy to India, Sergio Gor. “We are making a deal with India, a very different deal than we have made in the past.”
Trump reiterated his optimism that a deal was approaching, saying: “We’re getting closer.”
Relations between Washington and New Delhi collapsed in August after Trump raised tariffs to 50%, with US officials accusing India of fueling Russia’s war in Ukraine by buying Moscow’s discounted oil.
According to media reports last month, India and the United States were close to reaching a long-stalled trade deal that would reduce U.S. tariffs on Indian imports from 50% to 15% to 16%.
Citing three people familiar with the matter, the Indian Mint reported that the trade deal, which hinges on energy and agriculture, could lead India to gradually reduce its imports of Russian crude oil.
The US president, however, said he had spoken with Indian Prime Minister Narendra Modi, focusing largely on trade.
Trump had said energy was also part of their discussions, and Modi assured him that India would limit its oil purchases from Russia.
Modi also said the two leaders had spoken, but did not provide any details on what was discussed.
“Thank you, President Trump, for your phone call and your warm Diwali greetings,” Modi had said on X, referring to the Hindu festival.
“On this festival of lights, may our two great democracies continue to illuminate the world with hope and remain united against terrorism in all its forms,” declared the Indian Prime Minister.
As part of the negotiations with Washington, India may allow increased imports of non-genetically modified US corn and soybean meal, Mint had reported, citing the sources.
The agreement could also include a mechanism to periodically review tariffs and market access, the media added.
