Washington
US President Donald Trump claimed on Tuesday that India would soon lower its tariffs significantly, ahead of the April 2 deadline for reciprocal tariffs. Speaking from the Oval Office, Trump emphasized that this move would align India with other US allies and described it as a “Liberation Day” for American trade.
Trump expressed confidence in his trade strategy despite concerns about shifting US alliances with China. He cited the European Union’s recent reduction in car tariffs as a positive example. Both India and the US have been negotiating to finalize an early trade deal to resolve tariff issues.
India has made significant tariff concessions in response to US pressure, offering cuts on agricultural products like almonds and bourbon whiskey, worth $23 billion. These moves include reductions in tariffs on whiskey from 150% to 100%, as well as cuts on luxury cars and solar cells. Additionally, India has pledged to eliminate a 6% tax on digital advertisements, benefiting US tech companies like Google and Amazon.
In a broader effort, India plans to increase its energy purchases from the US, from $15 billion to $25 billion. Both countries are actively working to ease tensions, with trade talks progressing as the deadline for reciprocal tariffs approaches. Despite global trade war fears, Trump remains committed to creating a more balanced trade environment.