Trump Claims India to Eliminate Tariffs on U.S. Goods, But India's Minister urges Mutual Benefit
United States-India trade deal nearing with complete tariff elimination, asserts Trump
In a chat with Fox News, US President Donald Trump has dropped a bombshell. He declared that India is willing to wipe out 100% tariffs on American items, hinting at a groundbreaking deal between the two nations. "They put up a wall so high it's hard to work with em'. But guess what? They're ready to scrap 100% of their tariffs for America," he bragged[1].
Trump's Chill on Time, India-U.S Trade Deal Not Rushed
Despite his bold statement, Trump insisted he ain't in a hurry to seal the deal. "I ain't in a crazy rush. Just about everybody's after a piece of the action. I'm talkin' to India, South Korea, and heaps more countries," he added[1]. "I've got 150 countries knockin' on my door wanting to strike up a deal with me!" he exclaimed further.
Jaishankar Rebuts Trump's Zero-Tariff Claim, Says 'It Ain't Decided Yet'
Reacting to Trump's announcement, India's External Affairs Minister S Jaishankar issued a word of warning. "These talks are complicated. Don't get too excited until everything's finalized," he stated during a gathering in New Delhi[2]. "We want a deal that's beneficial for both sides. Our expectation is that it's gonna be fair and square," he emphasized[2].
'Complex negotiations' : India and the US have been at odds over trade disputes, particularly tariffs and market access. Commerce Minister Piyush Goyal happens to be in Washington right now, schedules for a rendezvous with US Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer[3]. India wishes for duty relief on goods like plastics, leather, gems, textiles, and agricultural produce. On the other hand, the US is pressuring India for lower tariffs on items like wines, electric vehicles, petrochemicals, and farm products such as apples and tree nuts[3].
[1] - FE Online[2] - Live Mint[3] - Business Standard
- The complex negotiations between India and the United States revolve around numerous aspects of policy-and-legislation, including tariffs and market access, as both countries seek a mutually beneficial trade deal.
- In the realm of finance and economy, the US is currently engaging in discussions with a multitude of countries, including India, South Korea, and many others, driven by a desire to secure trade agreements that accommodate their interests.
- As the possibility of a trade deal between India and the US unfolds, the future will likely see significant developments in the general news and politics sectors, particularly with regards to policy changes and legislative measures that may impact both economies.
