
Trump says India working on trade deal similar to US-Indonesia pact
US President Donald Trump on Tuesday said that India is working on a trade deal similar to the one the US recently signed with Indonesia, which could open the Indian market to greater American access.
Trump explained that under the Indonesia deal, the US will impose a 19% tariff on imports from Jakarta but face no tariffs on its exports to the Southeast Asian nation. “India basically is working along that same line,” Trump told reporters in Washington. “We’re going to have access into India.”
Indian and American negotiators are currently racing to reach an agreement before the August 1 deadline Trump has set, after which he has threatened steep tariffs—up to 35%—on countries that do not finalize deals with the US.
While Trump did not confirm whether India would adopt the exact terms of the Indonesia agreement, a mirrored deal would require India to accept a 19% tariff on its exports to the US and waive tariffs on American imports—terms that may face resistance in New Delhi.
Trump also discussed global sanctions related to Russia’s ongoing war in Ukraine. He said that if Russian President Vladimir Putin does not agree to a peace deal within 50 days, the US will impose a 100% secondary tariff on countries importing Russian energy—a move that would affect India and other major buyers.
He indicated that these extreme tariffs aim to pressure buyers into reducing energy trade with Moscow and push for a ceasefire.
Meanwhile, Senate Republican leader John Thune said he is holding back a bill proposing a 500% tariff on Russian energy imports, citing Trump’s own executive authority to impose such sanctions.