‘Will know at the end of the week…': After 25% tariff move, Donald Trump says talking to India; signals ‘anti-US' group BRICS a factor
US President Donald Trump has said that America is in talks with India for a trade deal and the latter's BRICS membership is also a factor to consider. Trump said that India is willing to cut tariffs 'very substantially'.
He added, '...you will know at the end of this week.'
Earlier in the day Trump had announced a 25% tariff rate on India, also warning of additional penalties for India's continued trade with Russia for arms and crude oil.
Asked about tariffs announced on India Trump said, "We are negotiating right now and it's also BRICS. BRICS, which is basically a group of countries that are anti the United States and India is a member of that...It
is an attack on the dollar and we are not going to let anybody attack the dollar. So it's partially BRICS and it's partially trade...We had a tremendous deficit.'
Trump added, 'Prime Minister Modi is a friend of mine, but they don't do very much business in terms of business with us. They sell a lot to us, but we don't buy from them...Because the tariff is so high. They have one of the highest tariffs in the world. Now, they are willing to cut it very substantially. But we will see what happens.'
'We are talking to India now. We will see what happens. It doesn't matter too much whether we have a deal or we charge them a certain tariff. But you will know at the end of this week…,' he said.
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