Washington: US President Donald Trump stated on Tuesday that the United States intends to lower tariffs imposed on India, emphasizing that negotiations are advancing toward a “fair deal” between the two nations.
Speaking during a White House event, Trump addressed queries about the bilateral trade discussions, noting that elevated tariffs stem from India’s previous oil purchases from Russia. He claimed New Delhi has significantly curtailed such imports.
“The tariffs are very high on India due to Russian oil and they (India) have stopped doing the Russian oil very substantially,” Trump remarked. “We’re gonna be bringing the tariffs down… at some point, we’ll bring them down.”
The president’s comments follow his decision in August to raise tariffs on certain Indian goods to 50%, a step interpreted as leverage against Russia amid its ongoing conflict in Ukraine. Trump has repeatedly asserted that India would halt its Russian oil trade.
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Trade dialogues between the US and India have continued, with Trump describing the emerging agreement as a departure from prior arrangements. “We’re making a deal with India, much different than we had in the past. So right now, they don’t love me, but they’ll love us again. We’re getting a fair deal, just a fair trade deal. We had pretty unfair trade deals… But we’re getting close,” he said.
Trump highlighted US Treasury Secretary Scott Bessent while reiterating optimism about a mutually beneficial outcome. Bessent has previously criticized India for profiting substantially from Russian oil transactions during the Ukraine war and supported the tariff measures.
Earlier claims by Trump of assurances from Prime Minister Narendra Modi regarding the oil trade were refuted by Indian officials, who stated no such conversation had occurred.
The developments underscore efforts to recalibrate economic ties, with the US seeking balanced terms in light of geopolitical pressures.
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