Big news has come out regarding the much-awaited trade deal between India and America. The White House has indicated that a big announcement may be made soon on this deal. White House spokesperson Caroline Levitt said that US President Donald Trump and his trade team are busy finalizing this agreement. She said that Prime Minister Narendra Modi and Donald Trump have a great relationship and it will continue.
This deal will take the trade relations between the two countries to new heights and the target is to increase the bilateral trade to $500 billion by the year 2030. White House spokesperson Caroline Lavitt said in a press conference, ‘President Trump said last week that a big trade deal was going to happen with India, and that is true. I recently spoke to our Commerce Secretary, who is working on this deal with the President in the Oval Office. There will be an update on this deal with India from the President and his trade team soon.
He also added that India is an important strategic partner of the US in the Indo-Pacific region, and President Trump’s excellent relationship with Prime Minister Narendra Modi will further strengthen the deal. Let us tell you that this trade deal is part of an interim agreement, which needs to be completed by July 9, 2025. This is because after this date, the new tariff of 26% announced by America will come into effect, which may affect Indian exports. This interim deal will pave the way for a comprehensive agreement by the end of the year. Its outline is as follows