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'I set the deal': Trump says trade agreements may come as soon as this week
While Trump did not name countries, he suggested trade deals may be finalised within weeks as talks progress with several nations including India amid tariff tensions and slowdown fears
New Delhi
US President Donald Trump has indicated that his administration could finalise new trade agreements with select countries as early as this week. Speaking aboard Air Force One on Sunday (local time), he declined to name any countries but stressed that he would be the one to determine the terms.
'I set the deal — they don't set the deal,' he remarked.
When asked if any trade deals were imminent this week, Trump said, 'It could very well be.' However, when asked to elaborate on a timeline, he did not provide clarity, stating, 'At some point in the next two weeks or three weeks, I'm going to be setting the deal.'
Trade talks underway, but Trump's tariff threat looms
Discussions have already been underway between Trump's aides and several other countries. However, Trump also maintained that new duties could still be imposed, saying, 'At a certain point, I'll be just setting a certain tariff number.'
'I'm going to say that such and such a country has had a tremendous trade surplus — surplus their way — with us, and they've taken advantage of us in various ways, and we fully understand what they were doing,' he added.
Trump's sweeping tariffs, announced on April 2, have triggered major upheavals in global markets in recent weeks, with fears of a global economic slowdown mounting. Within the US, concerns about a potential recession have also grown.
Last week, data from the US Bureau of Economic Analysis, cited by Bloomberg, revealed that the country's gross domestic product (GDP) had contracted for the first time in three years. The economic headwinds may have intensified pressure on the Trump administration to secure quick trade wins.
Are the US and India nearing a trade agreement?
India has been subjected to tariffs of up to 26 per cent. The Indian government has been engaged in trade talks with the US over a possible bilateral trade agreement. US Vice-President JD Vance recently visited India and held discussions with Prime Minister Narendra Modi, fuelling speculation that a deal may be close.
US-China trade talks may begin soon
China — the primary target of Trump's tariff campaign — said last week it is evaluating messages sent by the US government expressing a desire to resume trade negotiations.
'The US has recently sent messages to China through relevant parties, hoping to start talks with China,' China's Commerce Ministry said in a statement on Friday. 'China is currently evaluating this.'
Beijing has been hit with import duties of 145 per cent, with tariffs reaching up to 245 per cent on some goods. While Trump said on Sunday that he does not currently plan to speak directly with Chinese President Xi Jinping, he suggested his administration may be open to scaling back tariffs as part of future negotiations.
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