Trump hints at ‘very big’ trade deal with India after signing pact with China

US President Donald Trump has hinted at a major trade agreement with India, days after announcing a deal with China. Speaking at the “Big Beautiful Bill” event on Thursday (US local time), Trump said a “very big” deal with India could be next.

In his address, Trump said the US had just signed a deal with China and that India could be next. “We are having some great deals. We have one coming up, maybe with India. Very big one. Where we’re going to open up India, in the China deal, we are starting to open up China,” Trump said, ANI reported.

‘Not making deals with everybody’

He further added that while the US is open to partnerships, deals will not be made with every country. “We’re not going to make deals with everybody. Some we are just going to send them a letter, say thank you very much. You are to pay 25, 35, 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,” Trump said.

Trump also noted that international relations under his leadership had strengthened. “Things that never really could have happened, and the relationship with every country has been very good,” he added.

China deal: Rare earth supplies included 

While Trump didn’t delve into details of the China agreement, earlier this month he had announced the deal on Truth Social. “Our deal with China is done,” Trump posted in all-caps, adding that China would supply “full magnets, and any necessary rare earths…up front,” under the Geneva framework.

The agreement reportedly revived terms negotiated last month in Geneva, bringing some relief to global markets after months of tariff tensions.

US-India deal ‘in a very good place’: Howard Lutnick

Earlier in June, US Secretary of Commerce Howard Lutnick hinted at progress on the India-US trade front, stating that both sides had found “common ground.” “I think to be in a very, very good place, and you should expect a deal between the United States and India in the not-too-distant future because I think we found a place that really works for both countries.” When asked about his confidence in the deal, Lutnick said he was “very optimistic,” and added, “It could be sort of the way I come across.”

India confirms talks, aims for equitable agreement

On June 10, Union Commerce and Industry Minister Piyush Goyal also confirmed ongoing discussions. “PM Narendra 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,” Goyal said.

He reiterated that India and the US were working on a “nice, fair, equitable and balanced agreement to promote business.”