US Treasury Secretary Scott Bessent has recently disclosed that India may be among the first partners to sign a trade agreement with the United States.

During an interview on CNBC's financial forum, Bessent mentioned that the US has made progress in trade negotiations since the announcement of reciprocal tariffs on April 2. He emphasized that China should ease the trade war, as they sell five times more goods to the US than the US sells to them, and stated that high tariffs of 120% or 145% cannot be sustained in the long run.

Bessent noted that India is one of the 15 to 18 'significant trading relationships' that may reach an agreement with the US in the coming days, and revealed that several countries have put forth excellent proposals currently under evaluation. He expressed, 'I guess India will be one of the first trade agreements we sign, so let's wait and see.' Additionally, he mentioned that Vice President Pence visited India last week, where substantial progress was discussed, and noted that negotiations with South Korea are progressing very well. He also considers the discussions with Japan to have rich substantive content.

Regarding Europe, Bessent pointed out that European nations are concerned about the euro's appreciation following the turmoil in the currency markets caused by trade tensions. He stated that the euro has risen nearly 10% against the dollar since the beginning of the year, nearly reaching parity. Bessent predicted that the European Central Bank (ECB) would initiate rate cuts to try to lower the euro, stating, 'Europeans do not want to see a strong euro, and we will maintain a strong dollar policy.'