Amid growing interest in a trade deal between India and the United States, President Donald Trump on Monday stated that he is close to reaching an agreement with India. This comes after he recently announced fresh tariffs on 14 countries, with the highest rate of 40 per cent imposed on Myanmar and the Lao People’s Democratic Republic. The new trade measures are set to take effect on August 1.
While speaking to reporters after hosting Israeli Prime Minister Benjamin Netanyahu at the White House, Trump confirmed that he has already made deals with the UK and China. He added that he had sent letters to the nations he believed would not make a deal with the US.
When asked about tariffs, Trump said, “We’ve spoken to everybody, it’s all done. I told you we’ll make some deals, but for the most part, we’re going to send a letter. We’re going to say, welcome to the United States if you’d like to participate in the greatest, most successful country ever. I mean we are doing better than ever… We’ve never had numbers like this. We’ve never had investment like this. We have more than 90 have much more than 90. But most of those are going to be sent to letter. This is exactly what I said.”
Here’s What Trump Said On Trade Deal With India
He further revealed that deals with the United Kingdom and China are done, and that they are also close to finalising one with India. While Trump didn’t mention the exact details of the deal, his remarks suggest that negotiations are in advanced stages. It is likely that the agreements would focus on trade tariffs, market access, and bilateral cooperation.
“Now we’ve made a deal with United Kingdom. We’ve made a deal with China. We’re close to making a deal with India. 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,” added Trump.
Responding to the newly imposed tariffs, Trump maintained United States’ stance on duties, stating that he will not play unfair this time. He warned that the US could ask for more (in terms of tariff), but it is not doing so out of consideration for its relationships with certain countries.
“If you want to play ball, this is what you have to pay… As far as I’m concerned, we’re done. 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 and actually, it’s a small fraction compared to what we should be getting. We should be, we could be asking for much more. But for the sake of relationships that we’ve had with a lot of really good countries, we’re doing the way I do it. We could be getting a lot more. We could ask for a lot more than what we’re asking for,” Trump stated.
Fresh Tariffs On 14 Countries
Notably, the fresh tariffs were outlined in official letters sent to the leaders of the countries as shared by Trump on his Truth Social platform. These “wave of letters” are being issued to trading partners of the US. The countries affected by newly-announced tariffs include: Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Japan, Kazakhstan, Lao People’s Democratic Republic, Malaysia, Myanmar, Republic of Serbia, Republic of Tunisia, South Africa, South Korea, and Thailand.
