Trade deal between Indo-US can be held in July: US Commerce Minister said- a way out which is beneficial for both countries

Modi visited the US on 14 February. He met Trump at the White House. (File photo)

The trade deal is likely to be signed between India and the US by July. US Commerce Minister Howard Lutnik said on Monday, “India and the US will get a trade deal very soon, as the two countries have found a way that is beneficial for both.”

Lutnik said this at the Leadership Summit of the US-India Strategic Partnership Forum (USISPF) in Washington. Yesterday India’s Commerce Minister Piyush Goyal also said that the two countries want to give priority to each other’s business and there is a continuous talks between the teams.

Along with this, the US Commerce Minister said that when the right people on both sides sat on the table, we proceeded in the right direction. Now the deal will not take much time. According to sources, both countries can reach an interim agreement before July 8.

In fact, both countries have been talking on trade deal since US President Donald Trump’s announcement of 26% tariffs on India. These tariffs will be applicable to India from July 8.

US Vice President had said- Terms of trade deal finals

Earlier, US Vice President JD Vance had said that the US and India have finalized the conditions for the trade deal. This is called Terms of References. The US Vice President visited India in April. He gave this information at an event at Rajasthan International Center in Jaipur on 22 April.

JD Vance had said “I believe this is an important step towards realizing President Trump and Prime Minister Modi. It will prepare a roadmap for the final deal.”

The US Vice President visited India with his family.

On April 2, Trump imposed tariffs on many countries around the world

On 2 April 2025, Trump named Liberation Day and announced a new tariff on goods coming from more than 100 countries around the world.

He claimed that these tariffs would strengthen the American economy and teach countries a lesson who buy and sell less goods from the US.

President Donald Trump announced a tariff at the White House at Washington DC on 2 April 2025.

However, except China later, the rest of the countries were banned for 90 days. China also imposed tariffs in response to Trump’s tariff.

For this reason, China was not given relief from tariffs. China’s tariff was increased to 145%. After the conversation, tariffs were also reduced from China.

Trump said about tariff on India,

India imposes up to 52% tariffs on the US, so America will impose 26% tariffs on India. We will take about half of the tariffs from us as many tariffs are charged from us. Therefore the tariffs will not be completely reciperook. I could have done this, but it would be difficult for many countries. We did not want to do this.

What is a tariff?

Tariff is a tax imposed on goods coming from another country. Companies that bring foreign goods to the country pay this tax to the government. Understand this with an example …

• Tesla’s cyber truck is sold in the US market for about 90 lakh rupees.
• If the tariff is 100%, then it will cost around 2 crores in India.

What is the meaning of reciperook tariff?

Reciperookl means to equalize both the scales of the scales. That is, there is 1 kg of weight on one side, and on the other side also keep one kilo of weight and make it equal.

Trump is talking about increasing it. That is, if India imposes 100% tariff on some selected items, then America will also impose 100% tariff on that kind of products.

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Read these news related to Trump’s tariff …

1. Trump’s threat to impose 50% tariff on European Union: will be applicable from June 1; Said- Do not want to compromise with EU

2. Trade deal in America-China: Both reduced 115% tariff; Now US 30% and China will apply 10% tariffs on each other

3. Trump’s U-turn over tariffs on China: said- his economy in crisis; 20 days ago US imposed 145%, China imposed 125% tariff

4. Trump on backfoot in 7 days: Tariff stopped for 90 days, increased to 125% on China

5. America imposed 26% tariff on India: Trump said- Modi good friends, but behavior on tariffs is not good; India said- will solve the conversation

6. Donald Trump announced a tariff on medicines: said- Pharma companies will come back to America, Indian companies can suffer losses

7. Trump told Apple- Do not make an iPhone in India: If you do this, you will impose 25% tariffs; The phones that will be sold in America will be made here

There are more news …