US President Donald Trump has asserted that India will "substantially" lower taxes on US merchandise just before his April 2 deadline, which he has designated as "Liberation Day" for US trade.
Trump's announcement comes ahead of his move to impose reciprocal tariffs on imports from several nations, including India. He pointed out that numerous countries would reduce their tariffs as they have been "unfair" to the US.
"The European Union has already lowered their tariffs to 2.5%. I was told some time ago that India will also be lowering its tariffs significantly," Trump stated, without offering details or Indian government confirmation.
Trump's tariff plan is intended to bring US trade policy into line with what he sees as discriminatory duties on American exports. His administration is presenting April 2 as a turning point in restructuring trade relations with several nations. Yet, there has been no word from India officially announcing any such tariff cuts.
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