Trump: "India Agrees to Significantly Lower Tariffs"

"Nothing We Can Sell in India"
"Now They Want to Drastically Lower Tariffs"

U.S. President Donald Trump said regarding tariff negotiations with India that "(India) has agreed to significantly lower tariffs."

According to Bloomberg and other outlets, President Trump told reporters on the 7th (local time), "India imposes huge tariffs on us," adding, "There is nothing we can sell in India."

President Trump continued, "But now India wants to drastically reduce tariffs," saying, "Because someone is finally exposing what they have been doing." This is interpreted as his claim that he raised the issue of India's high tariffs, prompting tariff reduction negotiations.

Donald Trump, President of the United States. Photo by Yonhap News

Since last year's presidential election, President Trump has called India "a very big villain in trade," saying that India has recorded a large trade surplus against the U.S. through tariffs.

As of last year, the total trade volume of goods between the U.S. and India was $129.2 billion (approximately 187 trillion won), with the U.S. being India's largest trading partner. India also recorded a trade surplus of $45.7 billion (approximately 66 trillion won) with the U.S.

In response, Indian Prime Minister Narendra Modi held a summit with President Trump at the White House last month and promised to conclude a trade agreement to increase bilateral trade volume to over $500 billion (approximately 725 trillion won) by 2030, as well as to purchase U.S.-made weapons and expand energy imports.

Indian Minister of Commerce and Industry Piyush Goyal recently visited the U.S. to conduct trade negotiations with U.S. Secretary of Commerce Gina Raimondo and others, returning to India on the 8th.

The Economic Times of India reported that Secretary Raimondo argued that a comprehensive and macro-level trade agreement, rather than item-by-item agreements, should be made with India, stating that India's agricultural market cannot be exempt and must be opened.

Local media reported that in the tariff negotiations with the U.S., the Indian government is actively demanding that agricultural products be excluded from tariff negotiations, considering the hundreds of millions of people engaged in agriculture.

This content was produced with the assistance of AI translation services.