During a press briefing on Tuesday, Treasury Secretary Scott Bessent revealed that the United States is nearing a trade agreement with India, describing the negotiations as progressing positively.
“I believe we are quite close on India,” Bessent stated while addressing the media in the White House, coinciding with the 100th day of President Donald Trump’s administration.
In addition, Bessent noted that the administration has engaged in “substantial talks” with Japan regarding a potential trade arrangement, and indicated that the framework of a deal involving South Korea may soon be established.
These remarks follow a meeting between Vice President JD Vance and Indian Prime Minister Narendra Modi last week, during which significant progress was reported. “I anticipate we may soon see some announcements regarding India,” Bessent mentioned, though he refrained from specifying a timeline.
“Negotiating with a country like India, which has established and ready tariffs, makes the process considerably more straightforward,” he elaborated.
Bessent indicated on Finance Newso’s Squawk Box earlier that India could potentially emerge as one of the first countries to finalize a trade deal with the U.S.
In the wake of Trump’s recent announcement of broad tariffs, the White House has been active in seeking trade agreements with key global partners.
He later highlighted that discussions with 17 partners are currently “in motion,” explicitly excluding China from this list.
