Trump drops big hint about timing and nature of tariff deal with India

Donald Trump has dropped a major hint on the timing and nature of the trade deal being negotiated between India and the US, news agency PTI reported on May 17. India is prepared to eliminate all tariffs on goods from the United States, Trump said, adding that a deal between New Delhi and Washington is on the horizon. "Do you know that they're willing to cut 100 percent of their tariffs for the United States?" he said.

In an interview with Fox News, Trump said he was in "no rush" for a deal with India.

Amid Trump’s statements regarding India’s willingness to remove tariffs entirely, External Affairs Minister S. Jaishankar said that "any trade deal must be mutually beneficial." Trump earlier termed India as "one of the highest tariff nations in the world."


When questioned about the timeline for the trade deal with India, Trump responded, "That'll come soon. I'm in no rush. Look, everybody wants to make a deal with us." He elaborated that while many countries, including South Korea, are keen to negotiate, he intends to limit the number of deals he engages in due to the extensive number of countries interested — approximately 150.

Ongoing discussions are taking place between India and the United States to solidify a trade agreement. Jaishankar had revealed recently that the trade negotiations have been complex. "Nothing is decided till everything is," he said, adding, "Any trade deal must be mutually beneficial; it should work for both nations."

Currently, Commerce Minister Piyush Goyal is in Washington to evaluate the status of the negotiations regarding the proposed trade deal. He is scheduled to meet with US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer.

To enhance bilateral trade, India is advocating for duty reductions in labour-intensive industries such as textiles, gems and jewelry, leather goods, clothing, plastics, chemicals, shrimp, oilseeds, grapes, and bananas as part of the agreement with the US.

The US, on its part, is seeking tariff reductions on specific industrial products, automobiles—especially electric vehicles—wines, petrochemicals, dairy, and agricultural products like apples and tree nuts.