Tuesday, 02 January 2024 12:17 GMT

Donald Trump Claims India Offered To Cut Tariffs To Nothing, Says US-India Trade Ties A 'One Sided Disaster'


(MENAFN- Live Mint) President Donald Trump criticised India's trade policies in a Truth Social post on Monday (September 1), describing the economic relationship between the two countries as“totally one sided” and a“disaster” for the United States.

Trump argued that India has long benefited from selling large volumes of goods to the US while restricting American companies from entering its market.

“What few people understand is that we do very little business with India, but they do a tremendous amount of business with us,” Trump wrote.“In other words, they sell us massive amounts of goods, their biggest 'client,' but we sell them very little.”

Tariff criticism

The President blamed India's high tariffs for limiting US exports.

“Until now a totally one sided relationship, and it has been for many decades,” he said.“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. It has been a totally one sided disaster!”

Oil and defense ties with Russia

Trump also noted India's continued reliance on Russia for energy and defense equipment.

“India buys most of its oil and military products from Russia, very little from the U.S.,” he wrote.

Tariff cuts 'too late'?

According to Trump, India has recently signaled willingness to reduce tariffs, but he suggested the move may not be enough.

“They have now offered to cut their Tariffs to nothing, but it's getting late. They should have done so years ago,” he said, adding:“Just some simple facts for people to ponder!!!”

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