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As President Donald Trump prepares to mark the first 100 days of his second term with a rally in Michigan, his administration is signalling possible breakthroughs in trade negotiations with key Asian partners, including India, Japan and South Korea. Scott Bessent, U.S. Treasury Secretary, said in advance of a White House press briefing that the Trump administration is “very close” to finalising a trade deal with India, signalling a potential breakthrough in economic ties between the two countries, CNN reported.
Speaking at a press briefing alongside White House press secretary Karoline Leavitt, Bessent suggested that negotiations with New Delhi have advanced rapidly due to what he described as a relatively straightforward landscape compared to other global partners. “It’s much easier to negotiate with India compared to other countries because they have what we refer to as high non-tariff trade barriers,” Bessent said, according to CNN.
Asian countries, including India, Japan and South Korea, “have been the most forthcoming” in pursuing new trade agreements, he noted.
He suggested an announcement on India could be imminent, following a recent visit by Vice President JD Vance to New Delhi. “They made some very good progress,” Bessent noted, referencing talks between Vance and PM Modi.
Bessent also reported that the U.S. is edging closer to a potential deal with South Korea, reportedly saying, “I can see the contours of a deal.” He added that “substantial talks” have been held with Japan as well.
Despite concerns from economists, Bessent downplayed fears of major disruption. “I wouldn’t think that we would have a supply chain shock. And, I think retailers they have managed their inventory in front of this,” he said, according to the US media.
The Trump administration is also pushing to remove the so-called “internet tax” in the European Union, Bessent confirmed.
On the domestic front, Bessent reiterated the administration’s plan to boost American manufacturing by allowing companies full expensing of factories and equipment purchases, retroactive to January 20, the day Trump was sworn in for his second term. “The Trump administration wants to provide companies looking to relocate to the US full expensing of factories and equipment purchases,” Bessent reportedly said.
As Trump prepares for a campaign-style rally in Macomb County, Michigan, later today—his first major public event since returning to office—he took to his Truth Social platform to celebrate the milestone. “100 VERY SPECIAL DAYS. MAKE AMERICA GREAT AGAIN!!!” Trump wrote, adding praise for RNC spokesperson Danielle Alvarez and Border Patrol agent Paul Perez for their media appearances earlier in the day.
Reports suggest the president will also address troops at the Selfridge Air National Guard Base before his evening speech, where he is expected to tout economic gains and reaffirm his “America First” trade policies.
