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White House moves to reduce trade tensions

Nov 12, 2025, 6:10am EST
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US President Donald Trump and Indian Prime Minister Narendra Modi meeting in February.
Kevin Lamarque/File Photo/Reuters

The White House looked to be reducing global trade tensions as officials noted progress on deals with several major countries.

US President Donald Trump said tariffs against India, ratcheted up over the nation’s purchasing of Russian oil, would likely be lowered soon, and Switzerland was reportedly set to conclude an agreement with the US within weeks.

Vietnam’s deputy prime minister, meanwhile, said his nation was working towards a deal with Washington, and tensions between the US and China over trade have notably lessened.

Even when a deal appears close, however, talks can drag on: South Korea has been trying unsuccessfully to finalize an agreement Trump touted on a recent trip to Asia.

A chart comparing the US budget deficit to the revenue from tariffs between Jan. and Jul. 2025
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