Washington D.C., July 8:President Donald Trump on Monday indicated that the United States is on the verge of finalizing a trade agreement with India, even as he dispatched formal tariff notifications to 14 countries, including key allies in Asia. The announcements come ahead of the August 1 deadline for the expiration of a temporary tariff suspension.
“We are close to making a deal with India. We’ve already concluded agreements with the United Kingdom and China,” President Trump told reporters, citing ongoing efforts to recalibrate America’s global trade relations. “Others, we don’t think we’ll be able to make a deal with, so we’re sending them letters,” he added.
Trump made the remarks during a press briefing that coincided with Israeli Prime Minister Benjamin Netanyahu’s third visit to the United States since Trump took office on January 20. The President emphasized that the letters outline new tariff rates that will take effect in the absence of bilateral trade deals, while allowing for minor adjustments in specific cases. “We’re not going to be unfair about it,” he noted.
Ceasefire Credit in India-Pakistan Conflict
President Trump also reiterated his claim of playing a pivotal role in defusing tensions between India and Pakistan, following cross-border hostilities in May. The clashes erupted after India’s Operation Sindoor, launched in response to the Pahalgam terror attack, targeted militant camps across the Line of Control.
“We stopped a lot of fights. A very big one was between India and Pakistan,” Trump said. “We made it clear: if you’re going to fight, we’re not going to deal with you. That conflict was maybe at a nuclear stage—stopping it was really important,” he added, crediting trade diplomacy for the de-escalation.
New Tariff Regime Announced
In keeping with his America First trade policy, Trump unveiled fresh tariffs of up to 40% on goods from countries that have not reached favorable trade terms with the U.S. The list includes several Asian and African nations, as well as Eastern European states.
New U.S. Tariffs Effective August 1:
- Myanmar: 40%
- Laos: 40%
- Cambodia: 36%
- Bangladesh: 35%
- Serbia: 35%
- Indonesia: 32%
- Bosnia: 30%
- South Africa: 30%
- Tunisia: 25%
- Malaysia: 25%
- Kazakhstan: 25%
- South Korea: 25%
- Japan: 25%
- Thailand: 36%
The move underscores the administration’s intent to pressure trading partners into revised agreements or face steep import duties.
While Trump expressed optimism about concluding a deal with India before the tariff grace period ends on July 9, neither Washington nor New Delhi has issued an official confirmation. Diplomatic observers say the coming days will be crucial for shaping the next chapter in U.S.-India trade relations.
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