U.S. President Donald Trump has claimed that India offered to remove all tariffs on US goods, although he noted there's no rush on his end to sign a trade deal, even as it seems to be a major diplomatic shift.
During a recent Fox News interview, Trump mentioned India as a quintessential example of a country with trade barriers he will seek to eliminate. "They make it practically impossible to do business. Do you know they would cut 100 per cent of their tariffs for the United States?" he said, pointing to what he called a significant concession by New Delhi.
Though the remark implied there was progress, Trump left uncertain the timing of any deal. "That'll come soon. I'm not in a hurry. Look, everyone wants to cut a deal with us," he said, adding that he's not just going to make deals with anyone: "I'm not going to be making deals with everyone."
Reacting to Trump's comments, India's External Affairs Minister S. Jaishankar provided a more subdued view. Addressing the media on Thursday, Jaishankar characterized the talks ongoing as complicated and far from being over.
"Between the US and India, there have been trade negotiations going on. These are complex talks. Nothing is finalized until everything is. Any trade agreement must be mutually advantageous; it must benefit both nations. That would be our expectation from the trade agreement. Until that is finalized, any judgment on that would be too early," he said.
Trump's remarks come during a wider push by his administration to redefine international trade relations, especially as the July deadline approaches for a return to heightened tariffs. He suggested that certain countries, while open to talks, could soon be subject to unilateral U.S. tariff action.
Earlier in the day, Trump announced that he was going to impose new import tariffs on a number of trading partners over the next two to three weeks. He also hinted at the possibility of enhanced trade relations with Pakistan, India's arch-rival in the region.
Trump earlier attributed trade dynamics to his government's bid to ease tensions between India and Pakistan after the Pahalgam terror attack. "I'm using trade to settle scores and make peace," he said, implying that trade can be used as a diplomatic tool.
The U.S. President also mentioned the negotiations with China, referring to recent tariff cuts as a strategic olive branch. The U.S. recently lowered its tariffs on Chinese imports from an initial 145 percent to 30 percent, while China lowered its tariffs from 125 percent to a mere 10 percent, with both nations stating they are ready for more talks.
"If I hadn't made that China deal, I believe China would have collapsed," Trump said, highlighting the stakes at play in these international trade talks.
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