The United States is very close to a trade deal with India, possibly with Europe, but it’s too early to tell regarding Canada, President Donald Trump said in a Wednesday interview on Real America’s Voice.
To press for what Trump views as better terms with trading partners and ways to shrink a huge U.S. trade deficit, his administration has been negotiating trade deals ahead of an August 1 deadline, when duties on most U.S. imports are due to rise again.
“We’re very close to India, and … we could possibly make a deal with (the) EU,” Trump said, when asked which trade deals were on the horizon.
Trump’s comments come as EU trade chief Maros Sefcovic was headed to Washington on Wednesday for tariff discussions, while an Indian trade delegation arrived in Washington on Monday for fresh talks.
“(The) European Union has been brutal, and now they’re being very nice. They want to make a deal, and it’ll be a lot different from the deal that we’ve had for years,” he added.
Asked about the prospects of a deal with Canada, which, like the EU, is readying countermeasures if talks with the U.S. fail to produce a deal, Trump said: “Too soon to say.”
His comment was in line with the assessment of Canadian Prime Minister Mark Carney, who said earlier on Wednesday that a deal that works for Canadian workers was not yet on the table.
Trump also said he would probably put a blanket 10% or 15% tariff on smaller countries.
India Eyes Competitive Advantage
Trump has indicated that Washington is seeking market access into India similar to what Indonesia granted under a recent trade deal.
However, Indian officials are aiming to secure an agreement with the U.S. that includes even lower tariff rates than those offered to Indonesia.
On Tuesday, Trump announced a deal with Indonesia that lowered the tariff rate from a proposed 32% to 19%.
According to a Bloomberg report, Indian officials are negotiating with the Trump administration to finalise a trade agreement before the August 1, 2025, deadline, targeting tariff concessions more favourable than both Indonesia’s 19% and Vietnam’s proposed 20% rate.
A delegation from India is currently in Washington for another round of talks, with both sides working toward a tariff rate under 20%.
Indian negotiators argue that India deserves better terms than its Southeast Asian peers, noting that the U.S. views it differently from countries like Vietnam, which are often seen as transhipment hubs.
According to a source quoted by Bloomberg, ongoing talks suggest India could receive more advantageous tariff treatment compared to regional counterparts.
(With inputs from Reuters and IBNS)
