Negotiations For Bilateral Trade Pact Underway: Sources Amid US Tariff Threat

New Delhi:

US President Donald Trump said India has agreed to cut its tariffs “way down” as he reiterated his claim that the country charges America massive tariffs that make it difficult to sell products there. His comments came following Union Commerce Minister Piyush Goyal’s visit to the US for trade talks with his counterpart Howard Lutnick.

“Our country, from an economic standpoint and financial standpoint and a trade standpoint, has been absolutely ripped off by almost every country in the world,” President Trump said in remarks from the Oval Office on Friday.

“Canada, Mexico and then you just go right down the line. India charges us massive tariffs, massive, you can’t even sell anything into India. It’s almost, it’s almost restrictive. It is restrictive. We do very little business inside,” he said.

“They’ve agreed, by the way, they want to cut their tariffs way down now because somebody’s finally exposing them for what they’ve done. And the same thing with China, same thing with a lot of other countries, and the EU has been a terrible abuser of this country.”