India offered to cut tariffs on US goods to 'nothing', says Donald Trump
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Amid the ongoing trade tensions, United States (US) President Donald Trump has said that India has offered to cut tariffs on US goods to 'nothing'. Trump posted on Truth Social about the status of India's tariffs on US goods and said, "They have now offered to cut their Tariffs to nothing, but it's getting late. They should have done so years ago. Just some simple facts for people to ponder!!!"
Trump said that India does a tremendous amount of business with the US, while the US does very little with India. He added, "In other words, they (India) sell us massive amounts of goods, their biggest "client," but we sell them very little - Until now a totally one sided relationship, and it has been for many decades. The reason is that India has charged us, until now, such high Tariffs, the most of any country, that our businesses are unable to sell into India.
Calling the trade between India and the US a 'one-sided' disaster, Trump highlighted India's purchase of Russian oil and military products. He added, "Also, India buys most of its oil and military products from Russia, very little from the US.
50% tariff on India
Trump levied a 25 per cent tariff on Indian goods entering the US market from August 6. However, miffed over Russia's war in Ukraine and India's continued purchase of Russian oil, Trump gave India an ultimatum to either stop purchasing oil from Russia or face an additional tariff of 25 per cent, effective August 27.
An executive order, dated August 6, stated, “I find that the Government of India is currently directly or indirectly importing Russian Federation oil. Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 per cent”.
India's stance
India has not changed its stance on Russian oil purchase and on several occasions highlighted that its purchase of Russian oil was requested by the US government to stabilise the oil market.
At a meeting in Moscow with his Russian counterpart Sergey Lavrov in late August, India's External Affairs Minister S Jaishankar said that the Biden administration wanted India to buy oil from Russia to keep the prices in check. Responding to a question on the additional 25 per cent tariff, he said, "Incidentally, we also buy oil from America and that amount has been increasing. So, quite honestly, we are very perplexed at the logic of this argument that is referred to".
Jaishankar also highlighted that China was the biggest buyer of Russian oil, not India.
SCO Summit
Prime Minister Narendra Modi attended the two-day Shanghai Cooperation Organization Summit 2025, held in Tianjin, China. On Sunday, PM Modi held talks with Chinese President Xi Jinping, where the two leaders discussed ways to strengthen cooperation between India and China. This was PM's first visit to China since relations between the two countries soured after the Galwan Valley clashes in 2020.
Both nations have committed to improving the relations and ties that would mutually benefit the countries and realise the dream of rising Asia.
The SCO summit hosted leaders from 20 nations, including the Russian President Vladimir Putin. PM Modi greeted President Putin on the sidelines of the summit and expressed is delight on meeting him. The photos of the two leaders were shared on PM Modi's official X handle, where they could be seen sharing a hug. "Always a delight to meet President Putin!" the post's caption read.
Another clip showed PM Modi, Putin and Chinese President Xi Jinping exchanging warm greetings before posing for a group photograph at the summit venue.
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