As fresh US tariffs target key Asian and BRICS economies, President Trump signals progress in trade talks with India, offering room for negotiation before the August 1 deadline.
Washington, July 8, 2025:
US President Donald Trump on Tuesday said that Washington is “close to making a deal with India”, even as his administration imposed fresh tariffs on 14 countries, including several key Asian and BRICS economies. The remarks signal a softer tone toward India amid heightened global trade tensions and ongoing negotiations in Washington.
“We made a deal with the United Kingdom, we made a deal with China, we’re close to making a deal with India,” Trump said at a press briefing, indicating a potential breakthrough in US-India trade relations.
His comments came shortly after announcing new trade measures set to take effect from August 1, impacting nations such as Bangladesh, Japan, South Korea, Indonesia, and Thailand, among others. Myanmar and Laos will bear the brunt of the move, facing up to 40% tariffs on select imports.
India Holds Ground on Farm, Dairy Sectors
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The trade talks with India follow week-long closed-door meetings between Indian and American negotiators in Washington. India has been reluctant to fully open its agricultural and dairy markets, especially to genetically modified (GM) crops and large-scale US dairy producers.
“The livelihoods of millions of Indian farmers are at stake,” said a source familiar with the discussions, reiterating New Delhi’s demand to protect domestic agriculture from commercial-scale US competition.
India had earlier sought the removal of both baseline (10%) and retaliatory (16%) tariffs imposed since Trump’s April 2 tariff hike declaration.
Extended Deadline: From July 9 to August 1
Trump also revealed that the original July 9 deadline for implementing the new tariffs has been pushed back to August 1, offering countries a narrow window to resolve pending trade issues.
Also Read: Trump Announces August 1 Tariffs on 14 Nations in Major Trade Push
“I would say [it’s] firm, but not 100% firm. If they call up and say they’d like to do something a different way, we’re going to be open to that,” Trump said, suggesting flexibility in the final terms.
The White House confirmed that formal letters detailing tariffs have been sent to countries that are not on the verge of deals, stating they must now prepare for new economic conditions.
Countries on the Tariff Radar
The list of nations affected by Trump’s latest tariff offensive includes:
- Bangladesh
- Japan
- South Korea
- Thailand
- Malaysia
- Cambodia
- Indonesia
- Serbia
- South Africa
- Kazakhstan
- Tunisia
- Bosnia and Herzegovina
- Laos
- Myanmar
The President said some countries might face adjustments depending on their response or special causes, but the core intent remains to discourage alignment with “anti-American” economic policies — a reference made earlier to BRICS condemnation of US-Israeli strikes on Iran.
India Remains in Focus
India’s continued strategic balancing — resisting full agricultural concessions while participating in broader BRICS unity — places it in a delicate but powerful negotiating position. Union Minister Piyush Goyal last week stated that India was “ready to make trade deals in national interest,” but not under pressure of artificial deadlines.
With the deadline now extended and Trump indicating openness, India may clinch a limited trade deal that addresses tariff rollbacks without major compromises in sensitive sectors.
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Donald Trump, US India Trade Deal, US Tariffs 2025, India US Negotiations, BRICS Summit, India Farmers Tariff, Trump on India, Trump Trade War, US Tariff Deadline, Global Trade Tensions, India Dairy Import Policy