US President Donald Trump on Thursday (local time) announced that America has signed a new trade deal with China, and suggested that a “very big” deal with India could soon follow.
Speaking at the Big Beautiful Bill event, Trump addressed recent trade developments and said,
“Everybody wants to make a deal and have a part of it. Remember a few months ago, the press was saying, ‘You really have anybody of any interest? Well, we just signed with China yesterday. We are having some great deals. We have one coming up, maybe with India. Very big one. Where we’re going to open up India, in the China deal, we are starting to open up China.”
The US President asserted that not every country will receive a deal, emphasizing the strategic nature of US trade engagements.
“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. That’s the easy way to do it, and my people don’t want to do it that way. They want to do some of it, but they want to make more deals than I would do,” he said.
Reaffirming optimism about ongoing discussions with India, Trump reiterated,
“But we’re having some great deals. We have one coming up, maybe with India. Very big one. Where 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, and the relationship with every country has been very good.”
Although Trump did not share details of the newly signed China deal, earlier this month CNN reported that the US and China reached a new trade agreement under a revived Geneva framework. The truce eased export restrictions and brought relief to markets.
On the India front, US Secretary of Commerce Howard Lutnick expressed optimism at the US-India Strategic Partnership Forum, saying,
“You should expect a deal between the United States and India in the not-too-distant future because I think we found a place that really works for both countries.”
Back in India, Union Commerce and Industry Minister Piyush Goyal had earlier confirmed that trade negotiations with the US were actively underway.
“PM Narendra Modi and US President Trump met in February 2025… Both our leaders have decided to enter into a bilateral trade agreement which will be mutually beneficial for both the economies… We are negotiating to make a nice, fair, equitable and balanced agreement to promote business,” Goyal stated.
Goyal emphasized that India and the US are close allies and strategic partners, and the potential deal is a key opportunity to strengthen economic ties.