US President Donald Trump claimed Monday that India has offered to reduce its tariffs on US goods to zero, underlining that New Delhi should have done it years ago.
The Trump administration has imposed 25 per cent reciprocal tariffs on India and an additional 25 per cent levies for Delhi's purchases of Russian oil, bringing the total duties imposed on India to 50 per cent, among the highest in the world.
Trump has accused India of fueling Moscow's deadly attacks on Ukraine by purchasing Russian oil. However, he has refrained from tougher US sanctions on Russia itself.
"They have now offered to cut their tariffs to nothing, but it's getting late. They should have done so years ago," Mr Trump posted on Truth Social, adding that the relationship between the two countries has been a "one-sided disaster". New Delhi said that, like any major economy, it will take all necessary measures to safeguard its national interests and economic security.
Trump's comments come as Prime Minister Narendra Modi held bilateral discussions with Russian President Vladimir Putin and Chinese President Xi Jinping on the sidelines of the Shanghai Cooperation Organisation summit in Tianjin.Since his return to the White House this year, Trump has wielded tariffs as a wide-ranging policy tool, with the levies upending global trade.The US Court of Appeals for the Federal Circuit on Friday ruled that many of Trump's tariffs, which have upended global trade, were illegal because he did not have authority to impose them.
But the court allowed the levies to remain in place for now, giving Trump time to take the fight to the conservative-majority Supreme Court.
India will not "bow down" and instead focus on capturing new markets, Commerce Minister Piyush Goyal said in his first public remarks since Washington imposed steep tariffs on Indian goods.
The latest tariffs salvo from Trump has strained US-India ties, with New Delhi earlier criticising the levies as "unfair, unjustified and unreasonable".Trade talks between the two countries have stumbled over agriculture and dairy markets. Trump wants greater US access, while PM Modi is determined to shield India's farmers.
The US was India's top export destination in 2024, with shipments worth $87.3 billion.
"What few people understand is that we do very little business with India, but they do a tremendous amount of business with us," Trump said today."In other words, they sell us massive amounts of goods, their biggest "client," but we sell them very little - Until now a totally one sided relationship, and it has been for many decades. The reason is that India has charged us, until now, such high Tariffs, the most of any country, that our businesses are unable to sell into India. It has been a totally one sided disaster! Also, India buys most of its oil and military products from Russia, very little from the U.S," he added.