India among 50 nations willing to lower trade tariffs, says Donald Trump admin

US Trade Representative Jamieson Greer said that several countries, including India, are preparing to reduce tariffs. He also mentioned that almost 50 countries have contacted him to discuss President Donald Trump's new plan, which is already starting to show results.

India has an average agricultural product tariff of 39%, whereas the United States has an average of 5%, Greer told the Senate Finance Committee.

“Our average tariff on agricultural goods is 5%, but India’s average tariff is 39%. You understand the trend here. Our trade deficit, driven by these non-reciprocal conditions, is a manifestation of the loss of the nation’s ability to manufacture, to grow, and to build. The President recognises the urgency of the moment," he told the Senate.

He named Israel and India as two countries considering lowering tariffs, claiming that Trump's "reciprocity" goal in trade with friends has led to a readiness on the part of these nations to lower tariffs as well as non-tariff barriers.

“Nearly 50 countries have approached me personally to discuss the President’s new policy and explore how to achieve reciprocity. They have also spoken with many members of the administration. Several of these, such as Argentina, Vietnam, India, and Israel, have suggested that they will reduce their tariffs and non-tariff barriers in line with the President’s policy," Greer said.

Additionally, he blamed "one-sided tariffs, trade barriers by foreign partners" for the notable increase in the US trade deficit and the downturn of the nation's manufacturing sector.

According to him, around 50 nations have begun to negotiate as a result of Trump's significant changes to trade regulations, which include raising tariffs on steel, aluminium, automobiles, and non-US parts and imposing a basic global baseline tariff on imports.

“Several of these countries have suggested that they will reduce their tariffs, in line with the President’s policy," the US government official said.