One of first US trade deals may be with India Treasury s Bessent says

WASHINGTON - US Treasury Secretary Scott Bessent on April 28 said many top trading partners of the United States had made ‘very good’ proposals to avert US tariffs, and one of the first deals to be signed would likely be with India.

Speaking to reporters after two early morning television interviews, Mr Bessent said the first such trade agreement might come this week or next, but gave no further details.

Mr Bessent told Fox News’ FOX and Friends that President Donald Trump will be “intimately involved” in each of the bespoke trade deals with each of 15 to 18 important trading partners, but it will be important to reach agreements in principle soon.

“I would guess that India would be one of the first trade deals we would sign,” Mr Bessent told CNBC, adding that the US had also held very substantial negotiations with Japan and discussions with other Asian trading partners were going well.

Mr Trump has upended the global trading system with a spate of tariffs since taking office. These include a blanket 10 per cent tariff on most countries except Canada and Mexico, and new tariffs totalling 145 per cent on goods from China, which has responded with its own counter-measures. Higher US tariffs on dozens of countries are due to take effect on July 8 unless deals are reached before a 90-day pause ends.

A Treasury spokesperson declined to provide any further details on the ongoing negotiations.

Mr Bessent, who held dozens of talks with visiting officials during last week’s meeting of the International Monetary Fund and World Bank, will likely face more questions on the trade talks when he joins a regular White House briefing on Tuesday to tout Trump’s record over the first 100 days of his second term.

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