U.S. President Donald Trump said India will cut tariffs on U.S. goods by a lot as he reiterated his plan to slap tariffs on Indian imports starting April 2.
President Donald Trump said in an interview to Breitbart News, that his relationship with Prime Minister Narendra Modi is “very good” but did take India to US for its brute “tariffs”. “I think they are going to be cutting those tariffs tremendously but on April 2, we’re going to be charging them the same as we are being charged,” he said.
Trump’s comments come as talks between the two countries are currently ongoing. Favorable prospects ushered by U.S. President, however, really made naught of by India’s Commerce Secretary Sunil Barthwal when he told a parliamentary panel on March 10 that no arrangements have been reached to lower taxes yet.
Commenting on a wider trade context, Mr Trump mentioned the India-Middle East-Europe Economic Corridor (IMEC) project. Without mentioning China by name, he hailed it as a grouping of “wonderful nations” standing up to nations that harm US trade interests.
In his first speech to Congress on March 4, Mr. Trump denounced India and other countries for imposing \”very unfair\” tariffs on US goods. He had also called India a “tariff king” saying there had to be fairer trade practices.
Both countries are also looking at a comprehensive bilateral trade agreement to remove tariff and non-tariff barriers—one of the key items on its agenda from last month’s PM Modi’s USA visit.