US and India Near Landmark Trade Deal: Trump Signals Tariff Reductions

President Donald Trump announced that the US is close to securing a fair trade deal with India, intending to lower tariffs on New Delhi. Trump's remarks came during the swearing-in ceremony of Ambassador Sergio Gor, amidst ongoing discussions and efforts to conclude the bilateral trade agreement.

In a significant development, President Donald Trump revealed that the United States and India are on the verge of finalizing a fair trade agreement. Speaking at the Oval Office, Trump emphasized the plan to reduce the tariffs imposed on India, marking a new chapter in bilateral relations.

The announcement coincided with the swearing-in of Sergio Gor as the new US Ambassador to India. Trump praised India's negotiators, acknowledging the complexities but also the promising progress in sealing a beneficial agreement for both nations.

Talks between India and the US, which have completed five rounds, are reportedly in the final stages. The discussions aim to overcome differences, with tariffs, especially those related to India's purchase of Russian oil, a key point of negotiation. Both countries are eager to enhance trade ties amidst global economic shifts.

(With inputs from agencies.)