The potential accord with the European Union, which would spare European goods the 50 percent tariffs Trump has threatened, is one of a few deals the White House could finalize this week.

India is ready to make trade deals in the national interest, but not just to meet deadlines, Trade Minister Piyush Goyal said on Friday when asked whether a deal could be reached with the U.S. in time for a July 9 deadline set by Washington.

The announcement came after President Trump in April proposed a steep 46% tariff on Vietnamese imports; he later paused those tariffs while talks continued.