Peter Navarro, a top trade advisor to President Donald Trump, recently indicated that the White House is expediting negotiations for a trade deal with India. During an appearance on CNBC, Navarro stated that the administration is working as quickly as possible within the constraints of the Indian political system, which requires approval from both the Prime Minister and Parliament.
Navarro described the trade deal as being "close," echoing sentiments from Treasury Secretary Scott Bessent, who also remarked that progress is being made in discussions with New Delhi. These developments come amid growing skepticism among investors and consumers regarding the Trump administration's ability to fulfill its promises of establishing bilateral trade agreements, particularly in light of recent tariff announcements.
The urgency for a trade deal is heightened by economic concerns, as the U.S. gross domestic product experienced a decline of 0.3% in the first quarter of the year, attributed to uncertainties surrounding trade policies. Commerce Secretary Howard Lutnick hinted that a separate trade agreement has already been finalized, although he did not disclose the country involved.
President Trump himself has noted that negotiations are progressing well with India and expressed optimism about reaching an agreement. Last week, Vice President JD Vance met with Indian Prime Minister Narendra Modi, reporting positive advancements in the discussions.
While specific details of a potential trade deal with India have not yet been revealed, Navarro emphasized the collaborative efforts of U.S. Trade Representative Jamieson Greer and Lutnick in the negotiations. Navarro stated he is not directly involved in the negotiations but remains informed about the ongoing processes.