'In no rush': Trump isn't hurriedly pursuing India-US trade negotiations
What's the story
US President Donald Trump has claimed that India offered to remove all tariffs on American goods.
Speaking to Fox News, he said, 'They make it almost impossible to do business. Do you know they're willing to cut 100% of their tariffs for the United States?'
However, India's External Affairs Minister S Jaishankar emphasized the complexity of ongoing trade negotiations between the two nations.
Minister's response
Jaishankar emphasizes complexity of trade negotiations
In response to Trump's claim, Jaishankar said the ongoing trade discussions between India and US are complex and far from finalized.
"Nothing is decided till everything is."
The minister stressed that any trade agreement has to be mutually beneficial for both countries involved. "That would be our expectation from the trade deal," he added.
His remarks came just ahead of Commerce and Industry Minister Piyush Goyal's meetings with US Trade Representative Jamieson Greer and US Commerce Secretary Howard Lutnick.
Deal-making strategy
Approach to trade deals
Trump's remarks indicate a strategic approach to global trade relationships.
He hinted at a possible shift in how the US negotiates with other countries about import duties.
"That'll come soon. I'm in no rush," he said, indicating that while many nations are eager to reset their trade relationship with the US before the expiration of higher import duties in July, he is not hurriedly pursuing these deals.
Scenario
Bilateral trade between the US and India
The US continues to be India's biggest trading partner, with total bilateral trade amounting to nearly $129 billion in 2024.
India currently enjoys a favorable trade position with a $45.7 billion surplus in its trade with the US.
Last week, Reuters reported that India has offered to reduce its tariff gap with the US to less than 4% from the current 13%, seeking exemption from Trump's current and future tariff hikes.
Trade expansion
Trump hints at expanded trade with Pakistan
Apart from India, Trump also hinted at the possibility of expanded trade with Pakistan.
"I'm using trade to settle scores and make peace," he said, referring to efforts to broker a ceasefire understanding between India and Pakistan amid border disputes.
The statement highlights Trump's broader strategy of using trade as a tool for diplomatic negotiations and conflict resolution.