New Delhi: US President Donald Trump announced on Thursday that India has proposed a bilateral trade agreement with the US that essentially involves no tariffs on a variety of American goods.
Speaking during a meeting with business leaders in Doha, where he is on a state visit, Trump stated, “They are offering us a deal where basically they are willing to charge us no tariffs,” but did not provide additional details.
Trump also mentioned that he advised Apple CEO Tim Cook to focus on expanding manufacturing in the US rather than in India, saying, “Apple will be increasing its production in the United States.”
Discussions on the India-US Bilateral Trade Agreement have been ongoing, with representatives from India’s Department of Commerce and the US Trade Representative holding productive talks in Washington from April 23-25. They aim to conclude the first phase of the agreement by September-October 2025, following earlier discussions in New Delhi in March 2025.
The Commerce Ministry stated that the meetings covered a wide range of tariff and non-tariff issues and discussed pathways to finalize this initial tranche, emphasizing early mutual benefits. Virtual sectoral discussions have already taken place, with face-to-face meetings planned from late May.
These efforts align with the ‘Leaders’ Statement of February 2025,’ which seeks to strengthen India-US economic ties and supply chain integration through the bilateral trade agreement. During his visit to Washington earlier this year, Prime Minister Narendra Modi and Trump agreed to deepen the trade relationship and promote growth through fairness, security, and job creation. They also set an ambitious target, “Mission 500,” aiming to more than double bilateral trade to $500 billion by 2030.