EU Agreement Also Possible, But Canada Talks Uncertain
As a critical tariff deadline approaches, U.S. President Donald Trump has suggested that the United States is nearing a major trade agreement with India. During an interview with Real America’s Voice on Wednesday, Trump stated, “We’re very close to India,” indicating that a breakthrough in negotiations could come soon.
The remarks came as an Indian trade delegation landed in Washington on Monday to finalize terms of the potential deal. The urgency of these discussions is heightened by the looming deadline of August 1, when reciprocal tariffs on most U.S. imports are set to increase.
Trump also mentioned the possibility of striking a trade agreement with the European Union. “The European Union has been brutal, and now they’re being very nice. They want to make a deal,” he said, hinting that any future agreement would differ significantly from previous arrangements. EU trade chief Maroš Šefčovič was reportedly en route to Washington for talks on the matter.
However, when pressed about progress on a potential deal with Canada, Trump was less optimistic, stating, “Too soon to say.” Canada, like the EU, is reportedly preparing countermeasures if talks with the U.S. do not yield a favorable outcome.
In the broader context, the Trump administration has been actively working to reset trade relations with several countries to reduce the U.S. trade deficit. Recently, deals have been concluded with the UK, Vietnam, and Indonesia. Trump highlighted a new agreement with Jakarta that will see tariffs reduced to 19%, and discussions are reportedly in advanced stages with various African and Caribbean nations.
The coming days are expected to be crucial for the finalization of these international trade agreements as the U.S. seeks to secure better market access and avoid retaliatory tariffs.