'Not final, but I think so': Trump hints at 20-25% tariffs on India

New Delhi: US President Donald Trump has said that the United States may impose tariffs ranging from 20 to 25 per cent on imports from India. The statement comes amid the ongoing trade negotiations between the two countries.  No final agreement has, however, been reached yet.

In response to a report by Reuters that India is preparing to face higher US tariffs from 20-25 per cent, Trump said as reported by Bloomberg, "Yes. I think so." When asked if the deal had been finalised, the President clarified, "No, it's not."

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Speaking to reporters aboard Air Force One, Trump described India as a "good friend," but asserted that the country "charges more tariffs than any other."

In April, the Trump administration imposed a 10 per cent global tariff, which it now plans to raise significantly. Trump stated that most trading partners that do not negotiate separate bilateral trade deals could soon face tariffs of 15 to 20 per cent on their exports to the US. He added that his administration would be notifying nearly 200 countries of their new world tariff rate.

India however, remains optimistic. Union Minister for Commerce and Industry Piyush Goyal has expressed confidence that the two countries will reach a mutually beneficial trade agreement by October or November 2025.

"India today negotiates from a position of strength, a position of confidence," Goyal said recently. He emphasised that India's approach to trade deals with countries such as the US, New Zealand, Oman and European Union is based on "well-thought-out-strategy" and mutual cooperation.

Goyal also added that the ongoing talks with the US are progressing swiftly and are focused on achieving a good agreement that will complement the economic priorities of both nations.

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US Trade Representative Jamieson Greer, speaking to CNBC,  has said that India has shown "strong interest in opening portions of its market." He also said that talks with India required more negotiations as Trump is more focused on achieving "good deals" than "quick deals".