Trump says India has agreed to drop all import tariffs

US President Donald Trump this week said India has agreed to “drop” all import tariffs on American goods.

New Delhi did not release an official reaction to Trump’s remarks.

Trump made the remarks while interacting with the media alongside Canadian Prime Minister Mark Carney at the White House on Tuesday, the same day India and the UK concluded their bilateral free trade agreement (FTA).

“India has one of the highest tariffs in the world. We are not going to put up with that. They have agreed to drop it, drop it to nothing, Trump said, adding: “They (Indians) wouldn’t have done it for anybody else but me.”

Earlier, Bloomberg reported that India has proposed eliminating tariffs on select US imports, including steel, auto components, and pharmaceuticals, as part of ongoing bilateral trade talks with Washington.

The report said the zero-tariff offer would apply on a reciprocal basis and be limited to a specific quota of imports.

The US and India are negotiating a trade deal to boost bilateral trade to $500 billion by 2030 from over $190 billion now.

The ambitious goal was outlined during Prime Minister Narendra Modi’s visit to Washington earlier this year.

The India-US bilateral trade agreement(BTA), which has been the focal point of discussions, aims to strengthen economic ties and facilitate trade flows.

Both countries are optimistic that they will reach the final agreement before the 90-day pause on reciprocal tariffs expires in early July.