Trump says US‑India trade deal near completion as talks wrap up

U.S. President Donald Trump announced that the United States and India are close to finalising a trade agreement, calling Indian Prime Minister Narendra Modi a “good friend.” Trump made the remarks at the White House during an event focused on coal and energy policy, reiterating his long‑standing criticism of India’s tariff regime and citing past high duties on products such as Harley‑Davidson motorcycles.

The comments came after a four‑day series of negotiations in New Delhi (June 1‑4) that addressed an interim pact and a broader Bilateral Trade Agreement. A February framework already lowered the U.S. tariff on Indian goods from 25 % to 18 % and removed a punitive 25 % tariff linked to India’s Russian‑oil purchases. Officials projected Indian purchases of U.S. goods could reach $500 billion over the next five years, with particular benefits for U.S. energy firms.

Remaining hurdles include domestic opposition in India from agricultural groups wary of cheaper U.S. imports and the possibility of new U.S. tariff proposals that could shift the agreed 18 % rate. No mention of digital assets or cryptocurrency was made in the discussions.