India Poised to Seal a Groundbreaking Trade Deal with the US

US Treasury Secretary Scott Bessent expressed optimism about concluding a bilateral trade agreement with India, potentially making it one of the first countries to secure a deal with the US. This development is part of President Trump's broader trade strategy amidst ongoing negotiations with multiple countries.

US Treasury Secretary Scott Bessent has signaled a promising new trade agreement with India, positioning it as one of the first nations to potentially finalize such a deal with the Trump administration. The comments came during his appearance on CNBC's 'Squawk Box,' where he discussed the administration's current trade negotiations.

Bessent highlighted successful negotiations with Asian allies, including significant progress with Indian and Japanese counterparts. He referenced Vice President JD Vance's recent visit to India as a testament to the ongoing efforts, which aim to solidify important trading partnerships for the United States.

The US has maintained a 10% baseline tariff under President Trump's directives but paused further aggressive tariffs to encourage negotiations with key partners. Bessent emphasized India's priority status in the 15 to 18 nations currently engaged in talks, suggesting an imminent trade pact.

(With inputs from agencies.)