US President Donald Trump has said that a “very big” trade deal with India might happen soon. His statement came just weeks after trade officials from both countries held closed-door meetings to discuss a major agreement.

Speaking at the 'Big Beautiful Event' at the White House on Thursday, Trump said, "We have one coming up, maybe with India. Very big one." He added that he has a “great deal” with India and praised recent trade progress.

Trump explained, "Everybody wants to make a deal and have a part of it. Remember a few months ago, the press was saying, 'Do you really have anybody of any interest?' Well, we just signed with China yesterday. We are having some great deals."

He made it clear that the US will not make trade deals with all countries. "We're not going to make deals with everybody. Some we are just going to send them a letter saying thank you very much. You are to pay 25, 35, or 45 per cent. That's the easy way to do it, and my people don't want to do it that way. They want to do some of it, but they want to make more deals than I would do," he said.

India-US trade talks focused on tariffs and market access

The recent four-day discussions between Indian and US officials took place to prepare for this large trade deal. These talks mainly focused on allowing better market access for agricultural and industrial products from both countries. They also discussed reducing tariffs (taxes on imports) and removing non-tariff barriers.

The talks ended on June 10. The US delegation was led by members from the Office of the US Trade Representative, while the Indian team was led by Rajesh Agrawal from the trade ministry.

Union Commerce and Industry Minister Piyush Goyal spoke about the talks after they ended. He said, “PM Modi and US President Trump met in February 2025... Both our leaders have decided to enter into a bilateral trade agreement which will be mutually beneficial for both the economies, businesses on both sides and the people of both countries. We are negotiating to make a nice, fair, equitable, and balanced agreement to promote business."

The goal of the agreement is to increase trade between the two countries from the current $190 billion to $500 billion by 2030.

Trump also signs deal with China on rare earths

At the same event, Trump also announced that he had signed a new trade deal with China a day earlier. He didn’t share many details but said the deal was already done.

A White House official later confirmed that this agreement will help speed up the delivery of rare earth materials from China to the US. These materials are very important for technology and defence products.

Both countries have also agreed on a new framework to put in place the Geneva agreement, which will help guide future trade talks. This comes after months of trade tensions between the US and China.

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