Trump says Delhi keen to cost ‘no tariffs’ on US items | EUROtoday

US President Donald Trump has stated that India has provided to drop all tariffs on items imported from his nation.

The Indian authorities has “offered us a deal where basically they are willing to literally charge us no tariff”, Trump stated at an occasion in Doha.

India and the US are presently in talks to barter a commerce settlement.

Delhi has not commented but on the remarks. The BBC has reached out to India’s commerce ministry for remark.

No additional particulars relating to the purported deal have been made public but.

Trump was talking at an occasion with enterprise leaders in Doha the place he introduced a collection of offers between the US and Qatar, together with for Boeing jets.

The US president made the feedback whereas talking about Apple’s plans to make iPhones in India, saying he had informed CEO Tim Cook that he did not need him to construct in India as a result of it was “one of the highest tariff nations in the world”.

“They [India] have offered us a deal where basically they have agreed to charge us literally no tariffs. I said ‘Tim, we are treating you really good, we put up with all the plants you built in China for years. We are not interested in you building in India. India can take care of themselves’.”

In an earnings name earlier this month, Apple had stated it was shifting manufacturing of most iPhones from China to India whereas Vietnam can be a serious manufacturing hub for objects corresponding to iPads and Apple watches.

President Trump slapped tariffs of as much as 27% on Indian items in April. Delhi is dashing to barter a commerce deal throughout Trump’s 90-day pause on increased tariffs, which ends on 9 July.

Just this week, the US and China agreed to decrease import taxes on items being traded between the 2 international locations – US tariffs on Chinese imports will fall to 30% from 145%, whereas Chinese tariffs on some US imports will fall to 10% from125%.

The US was till lately India’s greatest buying and selling associate, with bilateral commerce amounting to $190bn (£143bn).

Delhi has already lowered tariffs on Bourbon whiskey, bikes and another US merchandise, however the US has a $45bn commerce deficit with India, which Trump desires to cut back.

“As Trump always blamed India’s high tariffs for the trade deficit, India could offer to make 90% of US exports tariff-free from day one, using a “zero-for-zero” approach – cutting tariffs on all goods except autos and agriculture. But the deal must ensure strict reciprocity, with both sides eliminating tariffs equally,” says Ajay Srivastava, a Delhi-based commerce skilled.

Trump and Modi have set a goal to greater than double commerce to $500bn, however Delhi is unlikely to supply concessions in sectors corresponding to agriculture the place there are deeper political sensitivities concerned.

India has lately proven extra openness to doing commerce offers after years of scepticism.

Last week, it inked a commerce pact with the UK that may considerably slash duties in lots of protected sectors like whisky and vehicles.

India additionally signed a $100bn free commerce settlement with the European Free Trade Association (EFTA) final yr – a gaggle of 4 European international locations that aren’t members of the European Union – after virtually 16 years of negotiations.

EU and India are additionally pushing to get a free commerce settlement executed this yr.

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