Much of the agreement President Trump unveiled Thursday still needs to be negotiated, but the administration said the deal with one of America’s closest allies would be the first of many.
The nuclear-armed rivals are also wrangling over Pakistan’s access to desperately needed foreign aid, as India explores ways to use its soft power and relationships to bedevil its old enemy.
The agreement appeared to be more of a framework than a settled deal and eased some of President Trump’s tariffs on British goods while opening its markets.
A deal would be a positive sign for both governments, which have eyed an agreement since President Trump’s first term.
As he proposes ever stiffer tariffs, President Trump has normalized his merely big ones.
The president thinks he can return America to manufacturing glory — but the cycles of economic history are hard to break.
Scott Bessent, the Treasury secretary, and Jamieson Greer, the United States trade representative, will discuss trade and economic matters with the officials this week.
General Motors now expects to earn a lot less than it did before President Trump imposed 25 percent tariffs on imported cars and auto parts.
Ford Motor also reported a sharp drop in profits in the first three months of the year.
The Treasury secretary urged executives and entrepreneurs to look beyond the Trump administration’s trade agenda.
