'Close To Making A Deal With India': Trump As US Targets 14 Other Nations With Tariffs

As tensions rise globally over trade policies, U.S. President Donald Trump has revealed that a trade deal with India may soon be finalized—despite a fresh wave of tariffs targeting several other nations. Speaking from the White House, Trump noted the progress in talks with New Delhi, saying, “We’ve made a deal with the United Kingdom, we’ve made a deal with China, and we’re close to making a deal with India.”

The comments came as the U.S. issued formal notices to multiple trading partners, warning of steep new tariffs that will take effect starting August 1—a deadline recently extended by Trump through an executive order.

Wave of Tariffs Hits 14 Countries

Among those affected by the U.S. tariff expansion are Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Japan, Kazakhstan, Laos, Malaysia, Myanmar, Serbia, Tunisia, South Africa, South Korea, and Thailand. The sharpest blow was dealt to Myanmar and Laos, both of which are now facing a 40% tariff rate—the highest in this round.

“We’re sending out letters to various countries telling them how much tariffs they have to pay,” Trump said. “Some will maybe adjust a little bit depending if they have a cause—we’re not going to be unfair about it.”

US-India Trade Talks Show Momentum

Trump’s remarks follow a week-long round of intense negotiations between U.S. and Indian trade officials in Washington. The two nations are working to finalize a mini trade deal, focusing on reducing tariffs and improving market access on both sides.

Initially, it was expected that a deal could be reached before July 9, the original deadline for imposing tariffs set by Trump on April 2. However, with negotiations still underway, the White House is now postponing the deadline to August 1, giving both countries more time to align on key issues.

“I would say firm, but not 100% firm. If they call up and they say we'd like to do something a different way, we're going to be open to that,” Trump said, indicating flexibility on the revised timeline.

India Stands Firm on Farmers’ Interests

One of the primary sticking points in the talks remains U.S. pressure on India to open its agricultural market—particularly for genetically modified (GM) crops and dairy products. However, India has consistently resisted these demands, citing concerns over food safety and the livelihoods of its farmers.

“The livelihoods of millions of farmers are at stake as they could not compete with America’s commercial-scale dairy farms,” a source familiar with the discussions said.

India’s agriculture sector, while accounting for just 16% of the country's $3.9 trillion GDP, supports nearly half of its 1.4 billion population. The entry of cheaper American imports could destabilize domestic markets, handing the opposition an opportunity to target the government on rural issues.

Modified Demands

In a bid to move the deal forward, India has reportedly softened its earlier demand for complete withdrawal of all retaliatory tariffs. Initially, New Delhi sought the removal of a 10% baseline tariff and an additional 16% country-specific tariff, imposed by the U.S. earlier this year.

Still, Indian officials remain clear that any deal must serve national interests—not external deadlines. Union Minister Piyush Goyal recently reiterated this stance, saying, “India is ready to make trade deals with the U.S. in the national interest, but not under pressure from any deadline.”

India Pushes for Access on Labor-Intensive Exports

While Washington continues to demand greater access to India's agricultural and dairy markets, India is pushing for meaningful tariff concessions on labor-intensive exports such as footwear, garments, and leather goods. These sectors are vital to job creation in India and seen as key to boosting trade volumes.

New Delhi insists that broader tariff cuts are essential if the two countries aim to double bilateral trade to $500 billion by 2030.

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