President Donald Trump on Tuesday announced that India has agreed to remove all its tariffs on US goods entering the country.
The president made the announcement during a joint press conference with Canadian Prime Minister Mark Carney. While addressing reporters, Trump noted that India has “the highest tariffs in the world” and that its government “agreed already to drop it.”
They'll drop it to nothing. They've already agreed. They would have never done that for anybody else but me. So we're going to put down some numbers, and we're going to say, ‘Our country is open for business,’ and they're going to come in, and they're going to pay.
BREAKING NEWS:
— Mila Joy (@MilaLovesJoe) May 5, 2025
India has reportedly offered Trump “zero-for-zero” tariffs on pharmaceuticals, steel & auto parts.
Currently they charge:
25% on auto parts
12% on pharmaceuticals
15% on Steel
Winning.
Trump did not go into the details of the new trade deal, but it seems clear the two parties will have another announcement soon. Last month, Trump announced a 90-day pause on the tariffs he announced at the beginning of April. Now, each country’s tariffs are set at ten percent. However, the tariffs Trump imposed on China remain the same.
🚨 BREAKING: India offers to drop tariffs on the U.S. to ZERO on several products, Trump announces.
— Eric Daugherty (@EricLDaugh) May 6, 2025
HUGE!!
pic.twitter.com/5hQS7gJTsJ
BREAKING NEWS:
— Mila Joy (@MilaLovesJoe) May 5, 2025
India has reportedly offered Trump “zero-for-zero” tariffs on pharmaceuticals, steel & auto parts.
Currently they charge:
25% on auto parts
12% on pharmaceuticals
15% on Steel
Winning.
It appears there may be more deals in the future as US Treasury Secretary Scott Bessent’s team communicates with other trading partners. From NDTV:
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Talks got underway in the run-up to, and after, President Trump's Liberation Day announcement of sweeping tariffs on nearly all of the US's trading partners. Imports from India were tariffed at 26 per cent, which is currently down to 10 per cent, a flat rate the American president announced for all countries in a 90-day pause, with the exception of China, whose goods are under a 145 per cent levy.
Scott Bessent, the treasury secretary, said at a congressional hearing Tuesday, the US is currently in talks with 17 of its 18 major trading partners - China is the 18th - and that he expects to see deals being announced soon.
This news could portend even better outcomes with other nations vying to make deals with the Trump administration. Hopefully, this means Trump’s tariffs won’t be necessary for much longer.
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