 "Trump claims India offered US a zero-tariff trade deal")
President Donald Trump claimed Thursday (May 15) that India had offered the US a ‘zero-tariff’ trade deal , reported Reuters.
While speaking in Doha, Trump said, “India offered US a deal, basically zero tariffs." Trump is visiting Qatar as part of his three-nation West Asia tour.
Trump’s latest comments follow his earlier remarks on April 30, when he said that talks with India on tariff issues were “going great” and expressed confidence in reaching a final deal soon. Speaking at an event in Michigan, he noted, “India tariff talks are going great, think we’ll have a deal soon.”
India-US trade talks
Washington and New Delhi have been engaged in a flurry of ongoing high-level trade negotiations to resolve tariff and market access issues.
According to a report by Reuters on May 9, India had proposed to reduce its average tariff differential with the US from around 13 per cent to under 4 per cent—a 9-percentage-point drop. This would be among the most comprehensive moves by India to align its trade policies with major global partners.
In return, India is asking for a full exemption from both existing and potential future US tariff hikes, something that Washington has not offered to even UK.
The US government on April 10 suspended additional tariffs on Indian exports for a 90-day period, effective until July 9. Experts saw this pause as an opportunity for both countries to expedite trade talks and build momentum.
The US on April 2 had imposed duties on imports from nearly 60 countries in an attempt to reduce the American trade deficit and strengthen domestic production. The move saw US impose an additional 26 per cent duty on Indian products, covering sectors ranging from seafood to industrial metals like steel.
Impact Shorts
More ShortsTrump’s zero-tariff claim comes ahead of Indian Commerce Minister Piyush Goyal’s visit to the US, where he will lead talks on the proposed Bilateral Trade Agreement (BTA) from May 17-20.
According to a report by CNBC TV18, key agenda points include market access, rules of origin, and non-tariff barriers. India’s proposal to impose retaliatory duties on certain US products.
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