U.S. President Donald Trump claimed in a Fox Information interview that India has supplied to get rid of all tariffs on American items, calling it a landmark commerce win. “They make it virtually unimaginable to do enterprise. Are you aware they’re prepared to chop 100% of their tariffs for the US?” he mentioned.
Nevertheless, Trump added he’s in “no rush” to finalize any deal, saying, “That’ll come quickly. Look, everyone needs to make a take care of us,” leaving the timeline unsure.
His remarks coincide with Commerce Minister Piyush Goyal’s go to to Washington (Could 17-20) for high-level commerce talks. The Indian delegation is assembly U.S. Commerce Consultant Jamieson Greer and Commerce Secretary Howard Lutnick to push for an interim take care of “mutual wins,” aiming for a broader settlement by autumn 2025.
India, nevertheless, was fast to mood expectations. Chatting with reporters, Exterior Affairs Minister S. Jaishankar clarified that commerce talks with the U.S. are ongoing, complicated, and much from remaining.
“Between India and the U.S., commerce talks have been occurring. These are sophisticated negotiations. Nothing is determined until all the pieces is. Any commerce deal needs to be mutually useful; it has to work for each nations. Till that’s accomplished, any judgment on it will be untimely,” Jaishankar mentioned.
Trump’s bullish commerce rhetoric comes at a time when the U.S. is dealing with rising questions on its personal fiscal well being. Moody’s downgraded the US’ sovereign credit standing from its top-tier Aaa to Aa1, citing escalating nationwide debt, hovering curiosity prices, persistent fiscal deficits, and political dysfunction in Washington.
This historic downgrade, bringing Moody’s in step with Fitch and S&P, displays mounting skepticism about America’s fiscal trajectory. Analysts warn it may increase borrowing prices for the U.S. authorities, unsettle monetary markets, and erode international confidence within the U.S. because the world’s monetary secure haven — whilst Trump tasks commerce leverage overseas.
Past tariffs, Trump’s feedback mirror a bigger technique: utilizing commerce as a geopolitical software. He pointed to India for instance of a rustic with excessive boundaries that he’s decided to dismantle. On the identical time, he hinted at providing commerce incentives to Pakistan.
“I’m utilizing commerce to settle scores and make peace,” Trump mentioned, referring to current border tensions between India and Pakistan, together with the aftermath of the Pahalgam terror assault in Kashmir.
Trump claimed his administration’s efforts helped dealer a ceasefire understanding between the 2 nations, suggesting that expanded commerce prospects with each had been a part of the equation.
Trump additionally invoked his commerce negotiations with China, framing them as acts of financial diplomacy that had international penalties. He cited a current settlement the place U.S. tariffs on Chinese language items had been reduce from 145% to 30%, with Beijing reciprocating by decreasing its tariffs from 125% to 10%.
“If I didn’t try this take care of China, I believe China would have damaged aside,” Trump mentioned, presenting himself as a dealmaker whose commerce insurance policies are aimed toward sustaining international stability.
