'So, I'm doing a trade deal with India': Trump's message from South Korea

The United States and India are set to finalize a long-pending trade agreement, former US President Donald Trump announced on Wednesday during his visit to South Korea, marking the final stop of his Asia tour. Trump’s statement suggested that the long-discussed deal between the two major economies is now within reach. Negotiations have been ongoing for several months, often disrupted by disagreements over India’s purchase of Russian oil amid the Ukraine conflict and disputes regarding tariffs. “If you look at India and Pakistan — I’m working on a trade deal with India and have great respect and affection for Prime Minister Narendra Modi. We share an excellent relationship,” Trump remarked. His optimistic tone comes on the heels of reports indicating progress on two of the three major hurdles — India’s continued import of discounted Russian oil and the US’ steep 50 percent “reciprocal” tariff on Indian goods, which included a 25 percent penalty linked to those oil imports.

Another stumbling block had been India’s refusal to open its highly protected dairy and agricultural markets to American producers — sectors crucial to Indian politics. However, recent reports suggest Washington may have agreed to cut tariffs to 16 percent after New Delhi consented to reduce its Russian oil purchases. The breakthrough reportedly followed a phone conversation between Trump and Modi, although neither side officially confirmed details or acknowledged any quid pro quo. Under the emerging terms, India may allow more imports of non-genetically modified American corn and soymeal, along with a system for regular reviews of tariffs and market access. During his remarks, Trump once again reiterated his controversial claim of mediating the May 10 India-Pakistan ceasefire — a statement India has repeatedly refuted, maintaining that it was Pakistan that sought the truce. He also praised Prime Minister Modi, calling him “the nicest-looking guy” but “tough as hell.” As he has done several times over the past few months, Trump further asserted that he not only brokered the ceasefire but also prevented a potential “nuclear war” between India and Pakistan by withholding trade deals from both sides. “These are two nuclear powers… they were at each other’s throats. I called Prime Minister Modi and said, ‘we can’t sign a trade deal right now — you’re about to start a war with Pakistan,’” he said. “Modi is the nicest-looking guy, but he’s tough as hell. Within two days, both countries called me back and said, ‘we understand,’ and the fighting stopped,” Trump added. The former president has repeatedly sought credit for halting the conflict, even citing his alleged diplomatic interventions — including this one and several others — as grounds for receiving the Nobel Peace Prize, which ultimately went instead to Venezuelan opposition leader Maria Corina Machado.