ECONOMY
Trump hints US, India “pretty close” to a trade deal different from past pacts
- IBJ Bureau
- Oct 22, 2026
US President Donald Trump has said that India and the US are “pretty close” to reaching a trade deal, which will be much different from the earlier pacts.
Speaking to reporters at the Oval Office, Mr Trump adds that India and the US are pretty close to making a trade deal.
“They want to make a deal. We’re going to make a deal. Pretty close, yeah,” Mr Trump has said in response to a question.
“It’s going to be a much different kind of deal than we’ve done,” the president has said.
Mr Trump’s remarks come at a time when US Secretary of State Marco Rubio is visiting India and discussing further strengthening bilateral relations focusing on sectors such as trade, energy, technology, defence and people-to-people ties.
Mr Rubio adds that Washington is “trying to finalise a trade deal with India” and is “very close to doing that”.
Earlier this month, Commerce Minister Piyush Goyal had met US Trade Representative Jamieson Greer in Milwaukee and Washington to discuss the finer aspects of the trade deal.
Mr Goyal had added that the first tranche of the India-US bilateral trade agreement had been finalised and was undergoing legal drafting, with the government hoping to complete the process soon.
In February, India and the US had announced the finalisation of a framework for the first phase of the bilateral trade agreement.
However, changes in the tariff landscape in the US have led to further negotiations on the pact.
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