Trump Says India Proposed to Reduce US Tariffs to Zero, But It's Already Too Late
U.S. President Donald Trump stated that after the United States imposed a 50% tariff on India last week due to its purchase of Russian oil, India has now proposed to reduce its tariff rates.
"They have now proposed to lower the tariffs to zero, but it is already too late. They should have done this years ago," Trump wrote on the social platform Truth Social on Monday. It is currently unclear when India made this proposal, nor is it clear whether the White House plans to restart trade negotiations with India.
The new U.S. tariffs have doubled the tariff rate on Indian exports from the original 25%. These tariffs affect more than 55% of goods shipped to the United States—America is also India's largest market—and have hit labor-intensive industries such as textiles and jewelry the hardest. Major export goods such as electronics and pharmaceuticals are exempt, and Apple's massive new factory investment in India has temporarily escaped impact.
The tariffs shocked Indian officials, who had previously engaged in months of trade negotiations with Washington. India was one of the first countries to start trade talks with the Trump administration, but its high tariffs and protectionist policies in sectors such as agriculture and dairy have frustrated U.S. negotiators.
India's Ministry of External Affairs did not respond to requests for comment outside of working hours, and the White House also did not immediately respond. The Office of the United States Trade Representative likewise did not respond immediately.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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