India likely among first for new U.S. trade deal

U.S. Treasury Secretary Scott Bessent said Monday that several major U.S. trading partners had made strong proposals to avoid tariffs, and India is likely to be among the first countries to sign a trade agreement.

Speaking to CNBC, Bessent noted significant progress in talks with India, Japan, and other Asian partners. He highlighted that Vice President Vance’s recent trip to India showed promising developments and that negotiations with South Korea and Japan were also going well.

Bessent suggested that the first trade deal could be finalized within a week or two.

He also mentioned that China's move to exempt certain U.S. goods from retaliatory tariffs signaled an interest in easing tensions, and emphasized that the U.S. had responded by not escalating further.

Speaking to Fox News, Bessent said President Donald Trump would be heavily involved in crafting individual trade deals with 15 to 18 key partners, stressing the urgency of reaching agreements soon.

On China, Bessent hinted that future negotiations depended largely on Beijing, noting the trade imbalance between the two countries and suggesting that China might eventually initiate talks.

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