9 hours ago
Unthinkable, but...: Trump wants full removal of trade barriers in India deal
US President Donald Trump, who earlier hinted that a "very big" trade deal with India would come soon, said on Friday that his country was looking to get all the trade barriers removed, which, he said, was "unthinkable".Addressing a press conference at the White House, Trump said the US would reach a deal with India, "where we have the right to go and do trade". His remarks came ahead of his July 9 deadline to impose reciprocal I think we are going to reach a deal where we have the right to go and do trade. Right now, it's restricted. You can walk in there and you can't even think about it. We are looking to get a full trade barrier dropping, which is unthinkable. I am not sure that that is going to happen. But, as of this moment, we agree to go to India and trade...," he said.
Trump said he planned to send out a letter over the next week and a half telling countries what US tariff rate they will have to pay. He also said that his July 9 trade deadline was not a fixed date."We can do whatever we want. We could extend it. We could make it shorter. I'd like to make it shorter. I'd like to just send letters out to everybody: Congratulations, you're paying 25 per cent," he reiterated that the US had made a deal with China amid a tariff war between the world's two largest TRADE TALKS SEE IMPASSEThe US President's remarks came as trade talks between India and the US hit a roadblock over disagreements on import duties for auto components, steel and farm goods, news agency Reuters reported, citing is pushing for a rollback of the proposed 26 per cent reciprocal tariff set to take effect on July 9, along with concessions on existing US tariffs on steel and auto parts. But US negotiators have not yet agreed to the demands, three Indian government officials told April 2, Trump announced reciprocal tariffs on all countries and dependencies and said the measures would come into effect from April 9. The tariffs had a baseline of 10 per cent, with the highest rate at 49 per cent. However, on April 10, Trump announced a 90-day pause after global markets crashed to record told Reuters that India has offered tariff cuts on almonds, pistachios and walnuts and was willing to extend preferential treatment for American imports in sectors like energy, autos and the impasse, Indian officials stressed their long-term commitment to the US as a trusted economic partner, while maintaining policy Minister Narendra Modi and Trump agreed in February to conclude the first phase of a bilateral trade agreement by autumn 2025 and to expand trade to USD 500 billion by 2030, from about USD 191 billion in 2024.- Ends
