AsianFin -- U.S. President Donald Trump claimed Monday that India has offered to reduce its tariffs to zero following the U.S.’s recent imposition of 50% duties on Indian goods, imposed in response to India’s continued purchases of Russian oil.
“They have now offered to cut their Tariffs to nothing, but it’s getting late. They should have done so years ago,” Trump wrote on Truth Social. It remains unclear when India made the proposal or whether the White House intends to resume trade negotiations.
The new U.S. tariffs double the previous 25% duty on Indian exports, affecting more than 55% of goods shipped to the U.S., India’s largest trading partner. Labor-intensive sectors, such as textiles and jewelry, are expected to bear the brunt of the impact. Certain key exports, including electronics and pharmaceuticals, are exempt, leaving Apple Inc.’s major factory investments in India largely untouched for now.
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