Trump says India offered to cut tariffs to zero, slams purchase of Russian oil and arms

[US tariff on India import trade war cargo shipping container]

U.S. President Donald Trump said that India has offered to reduce its tariffs on U.S. goods to “nothing,” leading to a complete elimination of tariffs, which comes as a response to the U.S. having imposed 50% tariffs on Indian exports.

Trump branded the U.S.–India trade relationship as “a totally one-sided disaster,” criticizing India's high tariffs and asserting that India sells the U.S. "massive amounts of goods" while buying very little from America.

"What few people understand is that we do very little business with India, but they do a tremendous amount of business with us. In other words, they sell us massive amounts of goods, their biggest “client,” but we sell them very little - Until now a totally one sided relationship, and it has been for many decades." Trump wrote on his Truth Social account.

“They have now offered to cut their tariffs to nothing, but it’s getting late. They should have done so years ago," he added.

In that same post, he also remarked that India buys much of its oil and arms from Russia and very little from the U.S.

Separately, there are reports that the White House has asked European nations to put similar sanctions on India, including putting a complete halt to all oil and gas that it purchases from New Delhi. This came amid India's persistent protests against the 50% tariffs that Trump has imposed on it for "buying" Russian crude.

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DEAR READERS: We recognize that politics often intersects with the financial news of the day, so we invite you to click here [https://seekingalpha.com/article/4817320-politics-and-the-markets-090225] to join the separate political discussion.

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