India has firmly rejected former U.S. President Donald Trump’s claim that New Delhi agreed to slash tariffs on American imports. Officials told a Parliamentary panel that no such commitment has been made, The Times of India reported.
India’s Clear Stand: No Immediate Concessions
Commerce Secretary Sunil Barthwal emphasized before the Parliamentary Standing Committee on External Affairs that India and the U.S. are negotiating a long-term trade deal but have not planned any immediate tariff cuts. India has sought time until September to address concerns flagged by Washington.
Trump’s Accusations: ‘India’s Massive Tariffs’
On Friday, Trump doubled down on his long-standing criticism of India’s trade policies, claiming his administration had “exposed” New Delhi’s high tariffs.
“India charges us massive tariffs. Massive. You can’t even sell anything in India. They have agreed, by the way, to cut their tariffs way down now because somebody is finally exposing them,” ANI quoted Trump as saying.
His administration previously imposed reciprocal tariffs on several nations, including India, with new tariff hikes expected next month.
US Commerce Secretary Adds Pressure
Speaking at the India Today Conclave, U.S. Commerce Secretary Howard Lutnick called India’s tariffs on American goods among the highest globally. He urged New Delhi to reconsider, particularly in the agricultural sector, suggesting India could take a “smarter” approach in dealing with its “most important trading partner.”
Markets React: US Stocks Take a Hit
Trump’s announcement of fresh tariffs has already rattled investors. U.S. stock indices tumbled Monday over fears of economic fallout. Analysts warn that escalating trade tensions could disrupt supply chains and hike costs for businesses in both nations.
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What’s Next?
Despite tariff tensions, India and the U.S. remain engaged in broader trade negotiations. New Delhi is prioritizing long-term cooperation over immediate concessions, ensuring its economic interests remain protected.
