Secretary of Commerce Howard Lutnick has said one should expect a trade deal between India and the US in the "not-too-distant future" as the two countries have found a place that works for them. "So the idea is when they put the right person and India put the right person on the other side of the table, and we've managed, I think, to be in a very, very good place," Lutnick said in his keynote address at the eighth edition of the US-India Strategic Partnership Forum (USISPF) Leadership Summit in Washington on Monday.
'Engaged in very fruitful discussions to expand our trade and economic partnership.'
The India-US ties witnessed a major downturn after President Trump slapped a whopping 50 per cent tariff on Indian goods, including a 25 per cent punitive levy over Russian oil purchases.
"For instance, you generally buy your military gear from Russia. That's a way to kind of get under the skin of America, if you go to buy your armaments from Russia."
US Commerce Secretary Howard Lutnick claims a trade deal with India failed because Prime Minister Narendra Modi did not call then-President Donald Trump, despite requests.
After constantly threatening China with 100% plus tariffs, US President Donald John Trump was all chummy when he met Chinese President Xi Jinping at Gimhae international airport during the Asia-Pacific Economic Cooperation summit in Busan, South Korea, on Thursday, October 30, 2025.
Lutnick said that these countries have to understand that if "you want to sell to the US consumers, you've got to play ball with the President of the United States."
The ruling is expected to have wide-ranging consequences for global trade, businesses, consumers, inflation trends and household finances across the country.
The turning point came with the appointment of Sergio Gor as the US ambassador to India.
'Incidentally, Prime Minister (Modi) and President Trump have also spoken on the phone on eight occasions during 2025, covering different aspects of our wide-ranging partnership'
"So I think what happens is it's all bravado, because you think it feels good to fight with the biggest client in the world, but eventually your businesses are going to say you've got to stop this and go make a deal with America."
The official also advised all the trade partners to abide by the trade deals. The new 10 percent global tariff is part of Trump's protectionist trade agenda, aimed at addressing balance-of-payments issues and unfair trade practices.
The Trump administration has launched a premium immigration programme targeting wealthy individuals worldwide, offering permanent residency in the United States through expensive 'Gold Cards' that could generate billions in revenue for the American Treasury.
Gor also announced that India will be a member of the Pax Silica alliance.
US President Donald Trump asserted that the trade deal with India remains intact despite a Supreme Court ruling against his tariffs, while also claiming he used tariffs to stop a war between India and Pakistan.
Between FY18 and FY25, India's annual corn imports from the US averaged just about $2 million.
Trump described the Gold Card as a "Green Card, but much better, much more powerful, a much stronger path and a path is a big deal. Have to be great people, but much stronger path", which also helps companies.
With the India-US trade talks moving in the right direction, Commerce and Industry Minister Piyush Goyal is expected to visit Washington soon, sources said.
'This idea that inexpensive tech consultants should be coming into this country and bringing their families, I find it just wrong.'
'The battle for brain power among Apple, Microsoft, Amazon, Alphabet, Meta, Nvidia and Tesla and newer AI companies is fierce.' 'Given the race for AI with China, these companies will find it hard pressed to fill that talent gap,' notes an IT professional based in the US.
The Indian team has returned from the US after holding trade talks with their American counterparts in New York, an official said on Thursday. Commerce and Industry Minister Piyush Goyal, who led the team, will be back on Friday.
'You are a guest in the US. It's not your home, you're a guest. If they don't feel comfortable, you have to step out.'
'And America will invite India in to have really an extraordinary opportunity and relationship with us.'
New Delhi 'will have to take a call which supply source suits us the best,' the finance minister said, pointing out that crude oil accounts for the bulk of India's foreign exchange spend.
The Trump administration is proposing to limit the duration of visas for foreign students and media personnel in the US, potentially impacting their ability to stay in the country.
'Most of them (H-1Bs) are from one country, India, there's a cottage industry about how all those people make money off this system.'
The US Citizenship and Immigration Services (USCIS) in a 'H-1B FAQ' document, released on Sunday, said that the September 19 proclamation took an "important, initial, and incremental step" to reform the H-1B visa programme to curb abuses and protect American workers.
President Donald Trump has announced that the United States will introduce a 'gold card' for wealthy foreigners, granting them the right to live and work in the country, with a pathway to citizenship, in exchange for a $5 million fee, CNN reported.
Trump has repeatedly claimed that he "helped settle" the tensions between India and Pakistan and that he told the nuclear-armed South Asian neighbours that America would do a "lot of trade" with them if they stopped the conflict.
Trump also praised Chinese President as "a great leader of a great country" and said the two sides had "already agreed to a lot of things."
Pakistan's Prime Minister Shehbaz Sharif on Thursday thanked United States President Donald Trump for the 'historic' trade agreement reached between Islamabad and Washington, and expressed hope that it would expand cooperation between the two nations.
India on Thursday said the issue of trade did not come up at all in talks between Indian and American leaders during its military clashes with Pakistan, virtually rejecting Washington's repeated claims that its offer of trade stopped the confrontation.
Trump stated that Russia will face "severe economic consequences" if Putin doesn't show interest in de-escalating the Ukraine conflict.
'As one of many immigrants at Nvidia, I know the opportunities we've found in America have profoundly shaped our lives.'
Commerce and Industry Minister Piyush Goyal will lead a team of senior Indian officials to Washington starting May 16 for discussions with their US counterparts on the proposed bilateral trade agreement (BTA), an official said on Tuesday. Goyal is expected to hold meetings with US Trade Representative (USTR) Jamieson Greer and US Commerce Secretary Howard Lutnick during his visit.
The Donald Trump administration has clarified that the new $100,000 fee for H-1B visas does not apply to current visa holders and is a one-time payment only for new petitions.
'It is good to have the H1-B visa option but if tomorrow things happen to change, it is not the end of the world situation.'
United States President Donald Trump said a 'very big' trade deal is on cards with India, hinting at significant progress in the negotiation process of a long-awaited bilateral trade agreement between the two countries.
A team of US officials is expected to visit India in the coming weeks for the next round of discussions on the proposed interim trade agreement between the two countries, sources said. The visit gains importance as India and the US are likely to agree on an interim trade agreement before July 9, with New Delhi pushing for full exemption from the 26 per cent reciprocal tariff on domestic goods.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances