US President Donald Trump has once again stated that India is willing to eliminate tariffs on American goods, claiming a trade deal between the two countries could be announced soon. In an interview with Fox News, Trump mentioned that India had agreed to cut 100 per cent of its tariffs for the United States. ”They make it almost impossible to do business. But do you know they’re willing to cut 100 per cent of their tariffs for the United States?” he stated.
‘I’m in no rush’, says Trump amid India-US trade talks
Despite his optimism, Trump mentioned that he was not in a hurry to close the deal. ”I’m in no rush. Everybody wants to make a deal with us,” he said, adding that talks were going with several countries, including India and South Korea. ”I’ve have got 150 countries that want to make deals,’’ he further added.
India demands fair and balanced trade deal
Reacting to Trump’s comment, External Affairs Minister S Jaishankar asserted that any trade pact must be fair and beneficial for both sides. ”These are complex negotiations. Nothing is decided until everything is decided,” he stated during an event in New Delhi. ”Any trade has to be mutually beneficial. That would be our expectation.”
India and the US have been engaged in discussions for a bilateral trade deal aimed at sorting out long-standing tariff and market access issues.
Commerce Minister Piyush Goyal is currently in Washington, where he is expected to have a meeting with US Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer. India is looking for duty relief for exports like plastics, leather, gems, textiles, and agricultural produce. Meanwhile, the US is pushing for lower tariffs on items such as wines, electric vehicles, petrochemicals, and farm products like apples and tree nuts.
(With inputs PTI)