President Donald Trump has announced that the United States is close to finalizing a new trade agreement with India. Talks are progressing rapidly, with Indian commerce officials currently in Washington. India aims to secure better terms than Indonesia recently received. However, issues remain over tariffs on agricultural, dairy, steel, and automotive products. While the U.S. trade deficit with India grew to $45.7 billion in 2024, both countries are optimistic about enhanced market access through tariff reforms and an eventual deal.