US Treasury Secretary Scott Bessent has reaffirmed that India is likely to be among the first countries to finalise a trade agreement with the United States. Mr Bessent cited India’s relatively open trade environment and limited non-tariff barriers as major reasons for the accelerated progress. The announcement comes amid growing global trade tensions, with the US having introduced broad tariffs earlier this month. During his visit to India last week, US Vice President JD Vance discussed trade issues with Prime Minister Narendra Modi, with both sides confirming that a roadmap for negotiations has been established.

In China, Mr Bessent remarked that it is now up to Beijing to take the next step.