US President Donald Trump is cozying up to the idea of signing more deals with countries during his upcoming trip to Asia, according to US Trade Representative Jamieson Greer. Although he didn’t name any nations with whom America’s agreements were close to being finalised, his statement follows recent “constructive” talks with India in Washington late September.
During an interview with Fox Business on Tuesday, Greer emphasised that tariffs would be “part of the policy landscape” moving forward. And yet, forthcoming potential trade agreements with Asian countries offered some semblance of respite.
Trump’s Asia visit expected to finalise more trade agreements
Having just returned from Malaysia where he sat down with “Southeast Asian countries, all of whom are essentially moving towards final, formal deals with the United States to open their markets,” he insisted more trade deals were on the horizon.
He further stated that Trump would be swinging through Asia at the end of October. “…we expect that at that time, we’ll be able to sign some of these deals,” Greer added during the interview.
Where are US-India trade talks headed?
Despite India being hit with hefty 50% tariffs over its purchase of Russian oil, its friction with the US seems to have cooled down to some extent in the last few days. The top American trade negotiator, alongside ambassador-designate Sergio Gor, met with an Indian delegation led by Commerce and Industry Minister Piyush Goyal in Washington DC from September 22 to 24 (US time). Shortly after that, Indian officials issued a statement, saying, “Both sides exchanged views on possible contours of the deal.”
Additionally, another group of US and Indian officials – Goyal, Indian External Affairs Minister Piyush Goyal, Greer and US State Secretary Marco Rubio – came together for a separate meeting on the sidelines of the UN General Assembly in New York. Subsequently, Indian foreign ministry spokesperson Randhir Jaiswal shared in a briefing, “The focus of the discussion was on trade and tariffs. Other aspects of our bilateral relationship were also reviewed.”
On top of these meetings, a senior government official from India shed even more positive light in the direction of a potential trade deal between New Delhi and Washington DC getting rid of the 25% additional tariff imposed on India for its Russian oil purchases. The official further claimed that both sides had plans of finalising the first part of the negotiation by autumn, as per Reuters.
The official also noted that another round of trade talks would be happening soon. “Like many other countries we are expecting a bilateral deal with lower than 25% tariff, they said, adding, “The situation is tough but we are hopeful we will reach an agreement that resolves all issues, including U.S. concerns on Russian oil purchases and our concerns such as H1B visas and pharmaceutical tariffs.”