US and India Near Milestone Trade Deal: A Strategic Economic Partnership

The US and India are close to finalizing a Bilateral Trade Agreement aimed at easing high tariffs and promoting economic growth. Agreements are being streamlined with India and other Asian partners. Economic discussions, spurred by high US-imposed tariffs, focus on broader bilateral trade enhancements.

The United States is reportedly nearing the final stages of a comprehensive trade deal with India. According to US Treasury Secretary Scott Bessent, talks have progressed smoothly due to India's high tariffs, which simplify negotiations. The announcement came during a press briefing at the White House.

Bessent noted Vice President JD Vance's recent trip to India, highlighting significant progress in talks with Prime Minister Narendra Modi. He alluded to potential agreements with South Korea and Japan. The overarching aim is to finalize a new Bilateral Trade Agreement (BTA) to foster job creation and economic collaboration between the US and India.

The meeting unveiled plans to designate senior representatives to expedite negotiations by fall 2025. President Trump and Prime Minister Modi's joint statement reinforced this commitment, aligning with their respective national visions for economic prosperity.

(With inputs from agencies.)