One of first US trade deals may be with India: Scott Bessent

WASHINGTON: US treasury secretary Scott Bessent on Monday said many top trading partners of the United States had made 'very good' proposals to avert US tariffs, and one of the first deals to be signed would likely be with India.

Speaking to reporters after two early morning TV interviews, Bessent said the first such trade agreement might come this week or next, but gave no further details.

He told Fox News that President Donald Trump will be "intimately involved" in each of the bespoke trade deals with each of 15 to 18 important trading partners, but it will be important to reach agreements in principle soon.


"I would guess that India would be one of the first trade deals we would sign," Bessent told CNBC, adding the US also held very substantial negotiations with Japan and discussions with other Asian trading partners were going well.

A Treasury spokesperson declined to provide any further details on the ongoing negotiations.

Briefing on Trump's 100 days
Bessent-who held dozens of talks with visiting officials during last week's meeting of the International Monetary Fund and World Bank-will likely face more questions on the trade negotitaions when he joins a regular White House briefing on Tuesday to tout Trump's record over the first 100 days of his second term.

Vance's visit
"Vice President (JD) Vance was in India last week, talked about substantial progress. I have mentioned that the negotiations with the Republic of Korea have gone very well, and I think we've had some very substantial negotiations with our Japanese allies," the tresury secretary told CNBC.

Negotiations have been ongoing, however no agreements have been announced, underscoring the complexities of reaching agreements during the short 90-day period.