India will reduce tariffs, says Donald Trump amid ongoing trade talks

US President Donald Trump on Wednesday indicated he has received confirmation suggesting India intends to lower tariffs on certain goods. Trump’s remarks came after Vice President JD Vance, during his visit to Jaipur, said India and US have finalised terms for trade negotiations.

“I understand that India will reduce tariffs,” Trump stated while speaking to reporters in the Oval Office. However, further details regarding specific products, timing, or confirmation were not provided. This follows ongoing trade discussions between the two nations.

India and China are two of the 15 largest US trading partnerships that the Trump administration is targeting for negotiations to lower the US trade deficit.

Indian and American officials will start formal negotiations on a planned bilateral trade agreement (BTA) in Washington on Wednesday (US time) to sort out trade issues and move the talks forward, according to news agency PTI.

The three-day meetings are the first in-person exchange according to agreed terms of reference with 19 chapters involving tariffs, non-tariffs, and facilitation of customs.

According to the office of the US Trade Representative, the pact will give opportunities to employees, farmers, and businessmen and women from the two nations as well as further access to US products in marketplaces abroad. The US aims to achieve more access, a reduction in tariffs, and pledges of assurance of longer-term benefits.

US, INDIA RECIPROCAL TRADE TALKS GET GREEN LIGHT

Earlier, in a press release by the Office of US Trade Representatives, Ambassador Greer confirmed that India and the US are making strides toward a new Bilateral Trade Agreement (BTA) after the announcement of the finalised Terms of Reference (TOR) for the deal.

He said, “I am pleased to confirm that USTR and India’s Ministry of Commerce and Industry have finalised the Terms of Reference to lay down a roadmap for the negotiations on reciprocal trade.”

“There is a serious lack of reciprocity in the trade relationship with India. These ongoing talks will help achieve balance and reciprocity by opening new markets for American goods and addressing unfair practices that harm American workers,” he added.

This came after US Vice President JD Vance met Prime Minister Modi on Monday evening (IST). He is on a four-day official visit to India from April 21 to 24.

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