India Ready to Slash 100% Tariffs on US Products, Claims Donald Trump With a 'But'

Former US President Donald Trump has claimed that India is ready to remove all tariffs on American goods, calling it a significant breakthrough-but he added that he is in no rush to finalise a trade agreement. If verified, this would mark a major concession from the world's fourth-largest economy.

However, India's external affairs minister S. Jaishankar pushed back on the assertion, saying trade talks between the two countries are still ongoing and far from complete.

"Trade negotiations between India and the US are complicated. Nothing is agreed upon until everything is agreed upon. Any trade deal must be mutually beneficial-that's our expectation. Until then, any conclusions would be premature," Jaishankar told reporters on Thursday.

Trump, speaking in a Fox News interview on Friday, named India as a prime example of a country with significant trade barriers that he aims to dismantle.

"They make it almost impossible to do business," Trump said. "Do you know they're willing to cut 100% of their tariffs for the United States?"

Despite this, Trump appeared to temper expectations around the timeline of any deal. "That'll come soon. I'm in no rush. Look, everybody wants to make a deal with us," he said, adding, "I'm not making deals with everybody."

His comments come as the Trump camp reportedly prepares to introduce new import duty rates for several trading partners in the next two to three weeks, signalling a potential overhaul of global trade dynamics.

Trump also mentioned the possibility of boosting trade ties with Pakistan, India's long-time rival. He indicated that trade had been a tool in attempts to de-escalate tensions between the two nations, especially after the Pahalgam terror attack in India.

"I'm using trade to settle scores and make peace," Trump said.

In the broader context of global trade, Trump also referenced ongoing negotiations with China. He claimed credit for preventing a potential economic collapse in the country, noting that recent talks led to the US reducing tariffs on Chinese goods from 145% to 30%, while China slashed its own from 125% to 10%.

"If I didn't do that deal with China, I think China would have broken apart," he said.