New York/Washington, March 8 – US President Donald Trump has announced that India has agreed to make a "substantial" reduction in its tariffs, citing the challenges American businesses face in selling products in the Indian market due to high import duties. He emphasized that India imposes excessive tariffs on US goods, making trade difficult.
As per agency reports, speaking from the Oval Office on Friday, Trump stated that, from an economic, financial, and trade perspective, the United States has been unfairly treated by many countries worldwide. He particularly pointed out India, Canada, Mexico, and the European Union, claiming that they have exploited US trade policies for years.
Trump reiterated that India levies significantly high tariffs, making it almost prohibitive for American companies to sell their products in the country. He remarked that India had finally agreed to reduce tariffs, suggesting that his administration’s tough stance on trade had prompted this shift. He drew a parallel with China and other countries, accusing them of taking undue advantage of the United States.
The remarks came shortly after Indian Commerce and Industry Minister Piyush Goyal visited the US for trade discussions with his American counterpart, Howard Lutnick. Trump's comments also marked the third time this week that he criticized India’s high tariffs.
On Thursday, he described India as a country with extremely high duties and reiterated that retaliatory tariffs on nations imposing tariffs on American goods would take effect from April 2. Earlier in the week, during his address to a joint session of Congress, he labeled India’s tariff policies as "unfair" and indicated that measures would soon be implemented to counter them.
Trump’s concerns over trade with India are not new. In the past, he has referred to India as the "tariff king" and accused it of engaging in unfair trade practices. During a joint press conference with Indian Prime Minister Narendra Modi at the White House last month, Trump had acknowledged India's strict tariff policies. While he did not blame India for prioritizing its interests, he noted that selling American products in India remains a significant challenge due to trade barriers and high tariffs.
Meanwhile, India has stated that it is open to enhancing trade ties with the US, including discussions on reducing both tariff and non-tariff barriers under a bilateral trade agreement. The two nations are working on deepening economic relations, with India expressing willingness to negotiate certain trade concessions in response to US concerns.
