Trump close to securing first tariff-forced trade deals. One with India could be game-changing

Just a month into his tariff policy, President Donald Trump could unveil his first new trade deals with allies as early as this week as his negotiators press for handshakes and signatures that could further calm markets and empower a brighter future for American workers, officials tell Just the News.

Commerce Secretary Howard Lutnick hinted at an approaching announcement last week when he revealed he has a trade deal with an unspecified country, pending approval of its conditions. Administration officials said as many as two or three deals could be unveiled in the coming days.

Speculation has swirled surrounding India being the first to forge a partnership after Vice President J.D. Vance last week met with India Prime Minister Narendra Modi in Delhi to discuss a Bilateral Trade Agreement (BTA).

The vice president's office put out a statement following their meeting, which stated, "The BTA presents an opportunity to negotiate a new and modern trade agreement focused on promoting job creation and citizen well-being in both countries, with the goal of enhancing bilateral trade and supply-chain integration in a balanced and mutually beneficial manner."

Also last week, Treasury Secretary Scott Bessent indicated that many trade partners had reached out to the White House since the tariffs were unveiled and had made 'very good' proposals.

"I would guess that India would be one of the first trade deals we would sign," Bessent told CNBC, and that the U.S. also held productive negotiations with Japan and other Asian nations. 

Former Deputy National Security Advisor Victoria Coates said an early deal with India could be a game-changer, since it is a partner with the market size of China that could apply pressure on Beijing.

"I'd love to have them be first out of the box," she said, noting Prime Minister Modi's relationship with Vance has already yielded dividends.

Coates said deals with the European Union will take longer, but there are some other big early possibilities. 

"I would look at Japan. I think that that would be key," she said. "I think the conversation with the Europeans is going to be a longer one, but again that really has to happen. We might be surprised by the UK."

Mere signs of trade deals on the horizon have already calmed markets after an early free fall prompted by Trump's "Liberation Day" tariff announcement on April 2.

The S&P 500 on Friday notched its longest streak of closing in the positive column in more than two decades, after it rose 1.47% at the close of business and marked its ninth consecutive day of gains. 

India has a few notable incentives to make it happen soon: India's largest trading partner is the United States. The nation was hit with 26% reciprocal tariffs on April 2 before Trump suspended the larger tariffs on most countries for 90 days, but kept a universal 10% tariff in place. India is also placing a large emphasis on an agreement as part of its India-US Comprehensive Global Strategic Partnership, which Modi says "will be a defining partnership of the 21st Century for a better future of our people and the world." Adding sweetness to the deal: Apple announced on April 25 that it would be shifting production of most U.S.-bound iPhones to India from China, bringing billions in revenue and jobs to the populous, developing nation. 

India's ambition to more than double trade between the U.S. and India, from the current $190 billion to $500 billion, was originally sent by Modi to Trump in February 2025. 

With headlines alluding to a Trump "misfire," Democrats and legacy media have wasted no time prognosticating about why the trade deals are taking so long, and may never come. However, sources told Fox Business on Monday that the president is working on broader trade deals encompassing additional nations, not just nations involving tariffs. This, they report, is the reason there has been only speculation and no official announcements of trade deals.