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‘We're negotiating': Trump signals trade talks with India; slams Brics, 'tremendous' trade deficit after 25% tariff
Indian Prime Minister Narendra Modi gestures during a joint press conference with US President Donald Trump at the White House in Washington, DC, US, February 13, 2025. File Image/Reuters
After imposing a 25 per cent tariff and additional penalties on Indian imports, US President Donald Trump hinted that Washington and New Delhi are currently engaged in trade talks, saying, 'We are negotiating, and we'll see what happens,' signalling a possible deal in the future.
Speaking at a White House press conference on Wednesday (local time), Trump criticized India's tariff policies, calling them among the highest in the world.
'We're talking to them now. We'll see what happens,' he said, when asked if the US was open to discussions.
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'Again, India was the highest or just about the highest tariff nation in the world, one of the highest,100 points, 150 points or percentages… They had 175 per cent and higher than that,' he added.
Trump brings India and Brics
Trump also took a dig at India's association with BRICS, a bloc comprising Brazil, Russia, India, China, and South Africa. He labelled it as a group working against the interests of the United States.
'They have Brics, which is basically a group of countries that are anti-United States, and India is a member of that, if you can believe it,' Trump said.
He accused the bloc of undermining the US dollar.
'It's an attack on the dollar, and we're not going to let anybody attack the dollar. It's partially Brics, and it's partially the trade. This trade situation is a deficit. We had a tremendous deficit.'
'Modi is a friend, but trade is unfair'
While calling Indian Prime Minister Narendra Modi a 'friend,' Trump voiced frustration over the current trade balance, suggesting that India benefits far more than the US.
'As you know, 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. You know why? Because the tariff is so high.'
He said India is now willing to lower tariffs, 'Now they're willing to cut it very substantially. But we'll see what happens. It doesn't matter too much whether we have a deal or whether we charge them a certain tariff.'
Trump announces tariff move
Earlier in the day, Trump announced the tariff move on Truth Social, blaming India's strong energy ties with Russia.
'Remember, while India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world,' he posted.
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He further accused India of relying heavily on Russia:
'They have the most strenuous and obnoxious non-monetary trade barriers of any country… They have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of energy, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE – ALL THINGS NOT GOOD!'
'INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST 1st. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!'
India responds, vows to protect interests
In response, New Delhi issued a statement emphasizing its commitment to protect local businesses and farmers while continuing talks with Washington.
'India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective.'
The government also said it would take firm steps to safeguard the interests of farmers, entrepreneurs, and MSMEs.
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