US President Donald Trump has hinted at an impending "very big" trade deal with India, suggesting that a pact could be finalized before the July 9th deadline. This announcement follows closely on the heels of a newly signed trade agreement with China, signaling a potentially significant shift in the global trade landscape.

Speaking at the 'Big Beautiful Bill' event, Trump stated, "Everybody wants to make a deal and have a part of it... We just signed with China yesterday. 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."

While Trump did not elaborate on the specifics of either the China deal or the potential India agreement, his remarks suggest a concerted effort to reshape trade relationships. He also mentioned that the US wouldn't strike deals with every nation, and some countries might face tariffs, stating, "Some we're 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."

The July 9th deadline is significant because it marks the end of a 90-day pause on reciprocal tariffs that the US had imposed on several countries, including India, on April 2nd. Trump's administration initiated this pause to allow for trade negotiations, with the understanding that tariffs could be reinstated if deals were not reached.

Earlier in June, India's Commerce and Industry Minister Piyush Goyal said that India and the US were in the process of negotiating a fair and equitable trade agreement that will benefit both economies. Addressing a press conference, Goyal stated that both PM Narendra Modi and President Trump decided to enter into a bilateral trade agreement which will be mutually beneficial for both the economies.

In a similar vein, US Secretary of Commerce Howard Lutnick expressed optimism about the prospects of a US-India trade deal. "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,” Lutnick said.

The potential trade agreement with India could encompass a wide range of issues, including tariffs, market access, intellectual property rights, and digital trade. Both countries have been engaged in intense negotiations to address their respective concerns and find common ground. If successful, the deal could boost trade and investment flows between the two nations, creating new opportunities for businesses and consumers.

The announcement of a potential trade deal with India comes as Trump's administration faces scrutiny over its trade policies. While some applaud the administration's efforts to secure better trade deals for the US, others have raised concerns about the potential impact of tariffs and trade barriers on the global economy. As the July 9th deadline approaches, all eyes will be on Washington and New Delhi as they work to finalize what could be a "very big" trade agreement.