US and India on the Brink of a Trade Agreement

US President Donald Trump revealed that the United States is "close to making a deal with India", signaling a significant step forward in bilateral trade relations. This announcement comes as the US prepares to implement new tariffs on several countries, including Japan and South Korea, starting August 1.

Global Tariffs and Trade Negotiations

Trump detailed the administration's approach to international trade, mentioning the dispatch of tariff letters to various nations. "We're sending out letters to various countries telling them how much tariffs they have to pay," he stated, emphasizing the US's openness to adjustments based on fair negotiations.

Deadline Flexibility and Future Deals

While the August 1 deadline for the new tariffs was described as "firm but not a 100 per cent firm", Trump expressed willingness to consider alternative proposals from affected countries. This flexibility underscores the administration's strategy to secure favorable trade terms while maintaining global economic relationships.