Washington and Delhi are "very close" to finalizing a trade agreement, US President Donald Trump said, as high-level talks between the two sides continue. "We are very close to an agreement with India, which will allow them to open up the market," Trump told reporters at the White House. The real possibility of an Indo-US agreement was confirmed by the president himself during an interview with the television channel Real America's Voice.

India and the US have been engaged in intense negotiations in recent months, aiming to reach an agreement before the particularly high tariffs take effect. Trump initially announced 27% tariffs on Indian products on April 2, as part of a broader trade policy strategy. The tariffs were initially suspended until July 9, but the United States later extended the deadline to August 1.

According to American media, an Indian delegation is in the United States this week to discuss the agreement, and both sides are optimistic about a possible deal. Although negotiations have been ongoing for months, key sticking points persist, particularly regarding access to agricultural products, auto components, and tariffs on Indian steel. For years, Washington has pushed for greater access to India's agricultural sector, viewing it as a significant untapped market. But India has vigorously defended it, citing food security, livelihoods, and the interests of millions of smallholder farmers.

India has already reduced tariffs on a number of products, including bourbon whiskey and motorcycles, but the United States continues to run a $45 billion trade deficit with India, which the US president is eager to reduce. In addition to the agreement with India, Trump said that the US "could soon reach an agreement with the European Union," which, the president claims, "has been brutal in the past" but "is now being very kind."

The EU, Trump continued, would like to "reach an agreement," which, however, "will be very different from the agreement we've had for years," he remarked. Asked about the prospects of an agreement with Canada, the president replied: "It's too early to tell."