U.S. and India Near Breakthrough Trade Deal

The U.S. and India are on the verge of finalizing a significant agreement to lower tariffs on American imports and prevent a sharp rise in levies imposed by the Trump administration. Treasury Secretary Scott Bessent indicated that the negotiations are progressing well.

The United States and India are on the brink of finalizing a major trade agreement that could ease tariffs on American imports into the South Asian nation, a move likely to prevent forthcoming escalation in duties initially imposed by the Trump administration. Treasury Secretary Scott Bessent made this announcement in an exclusive interview on Tuesday.

Bessent, speaking to Fox News, expressed optimism about the negotiations, stating, "We are very close with India." His remarks highlight the ongoing efforts by both nations to strengthen economic ties and mitigate looming economic tensions ahead of a critical deadline next week.

As the talks progress towards conclusion, the potential deal is seen as pivotal in enhancing bilateral trade relations and supporting economic stability through diplomatic channels, according to sources familiar with the discussions.

(With inputs from agencies.)