New York: US President Donald Trump has once again claimed that India is ready to cut 100 per cent tariffs on American goods. In an interview with Fox News, he said a trade deal with India is coming soon, but he is not in a hurry. Trump described India as “one of the highest tariff nations in the world” and said it is very hard to do business there.
Trade Deal “Coming Soon”
When asked if the deal with India would be finalised soon, Trump replied, “That’ll come soon. I’m in no rush.” He added that many countries want to make trade deals with the US, but he can only do a few at a time.
India Wants a Fair Deal
Responding to Trump’s remarks, External Affairs Minister S. Jaishankar said that trade talks between India and the US are ongoing. He added, “Any trade deal has to be mutually beneficial. It must work for both countries.” He also said that nothing is final until all points are agreed upon.
Talks Are in Progress
Commerce Minister Piyush Goyal is currently in Washington to review the progress of the talks. He is expected to meet US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer.
What India and the US Want
India is asking for lower duties on its key export sectors like textiles, gems and jewellery, leather goods, plastics, chemicals, shrimp, and bananas.
The US, on the other hand, wants India to reduce import duties on goods like electric vehicles, industrial goods, wines, dairy products, apples, and tree nuts.
