Washington, D.C.: US President Donald Trump on Thursday announced that the United States has signed a trade deal with China, adding that a “very big” agreement with India may soon follow. However, he did not disclose the terms or scope of the China agreement.
“…We just signed (trade deal) with China. We’re not going to make deals with everybody… But we’re having some great deals. We have one coming up, maybe with India, a very big one,”
— President Trump at a White House event on government spending
Trump also stated that trade relations were improving significantly with both China and India.
“We’re going to open up India. In the China deal, we’re starting to open up China. Things that never really could have happened… The relationship with every country has been very good,” he added.
While he praised ongoing progress, Trump made it clear that the US would not be entering trade agreements indiscriminately.
“We’re not going to make deals with everybody. Some we are just going to send them a letter, say thank you very much. You are to pay 25, 35, 45 per cent… My people don’t want to do it that way. They want to make more deals than I would do.”
India-US Trade Deal in the Pipeline
Earlier this month, US Secretary of Commerce Howard Lutnick expressed optimism regarding a US-India trade agreement.
“You should expect a deal between the United States and India in the not-too-distant future… I think we found a place that really works for both countries,”
— Howard Lutnick at the US-India Strategic Partnership Forum
Meanwhile, Indian Commerce and Industry Minister Piyush Goyal confirmed that both nations are actively negotiating a “fair and equitable” trade deal that would benefit both economies.